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Paul, Weiss Advises Resolute Holdings on Acquisition of Majority Interest in CompoSecure

Strategic Insights

— 1 min read

Paul, Weiss, Rifkind, Wharton & Garrison LLP has advised Resolute Holdings I, LP, and its affiliates on the acquisition of a majority interest in CompoSecure, Inc., a leading provider of metal payment cards, security, and authentication solutions. This significant transaction marks the first investment by Resolute, a firm led by David Cote, executive chairman of Vertiv, and Tom Knott, former head of Permanent Capital Strategies at Goldman Sachs. The deal includes a substantial investment by the Cote family through Resolute, with Dave Cote set to become the executive chairman of CompoSecure's board of directors. The acquisition is expected to close by September 30, subject to customary closing conditions and regulatory approvals.

Key Takeaways:

  • Paul, Weiss advised Resolute Holdings on the acquisition of a majority interest in CompoSecure, a leading provider of metal payment cards, security, and authentication solutions.
  • The deal marks the first investment by Resolute, a firm led by David Cote and Tom Knott.
  • The Cote family will invest $372 million through Resolute, and Dave Cote will become the executive chairman of CompoSecure's board of directors.
  • The transaction will eliminate the current dual-share class structure and close by September 30, subject to customary closing conditions and regulatory approvals.
  • The Paul, Weiss team was led by corporate partner Laura Turano and included multiple partners and counsel from various practice areas.
  • The acquisition highlights Resolute's expansion into the financial services sector.
  • CompoSecure's products and services will continue to support secure payment solutions for card issuers.

Statistics:

  • $372 million: The investment by the Cote family through Resolute.
  • 100%: The entire class B units and associated class B shares will be exchanged for class A shares in the terms of the transaction.
  • 1: The time period for the current dual-share class structure to be eliminated.
  • 30: The expected date for the transaction to close by, subject to customary closing conditions and regulatory approvals.

Sources:

  • Press release issued by Paul, Weiss, Rifkind, Wharton & Garrison LLP.

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