Market Overview

CPI Card Group Completes Sale of its U.K. Business to SEA Equity

Share:

Divestiture Enables Company to Sharpen its Focus on Executing
Strategic Priorities

CPI Card Group Inc. (NASDAQ:PMTS, TSX:PMTS) ("CPI Card Group" or the
"Company"), a global leader in financial and EMV® chip card
production and related services, today announced the sale of its U.K.
business to SEA Equity, a private investment firm focused on investments
in companies across the United Kingdom and Europe.

"Divesting our U.K. business is a key strategic step toward optimizing
CPI's portfolio and focus," said Scott Scheirman, President and CEO of
CPI Card Group. "With this transaction, we are becoming even better
positioned to serve our customers by focusing on our core businesses
including card manufacturing, personalization, instant issuance and
prepaid. We are continuing to execute on our key strategic priorities
and are moving forward with our vision to provide customers with
unmatched solutions, innovation and world-class service."

Mr. Scheirman continued, "We thank the employees of our U.K. business
for their contributions to CPI and wish them all the best. We believe
that they will continue to effectively serve their markets and customers
in the future under SEA Equity's ownership."

Elliott Nicholson, partner at SEA Equity, said: "We are excited to add
the U.K. business to our portfolio. With its best-in-class product
offering, award winning service and high quality operations, we believe
the business is well-positioned for the future. We look forward to
working with the management team, led by Nick Cahn, to further
strengthen its value proposition and market position."

About CPI Card Group

CPI Card Group is a leading provider in payment card production and
related services, offering a single source for credit, debit and prepaid
debit cards, including EMV® chip, personalization, instant issuance,
fulfillment and mobile payment services. With more than 20 years of
experience in the payments market and as a trusted partner to financial
institutions, CPI's solid reputation of product consistency, quality and
outstanding customer service supports our position as a leader in the
market. Serving our customers from locations throughout the United
States and Canada, we have a leading network of high security facilities
in the United States and Canada, each of which is certified by one or
more of the payment brands: Visa, MasterCard, American Express, Discover
and Interac in Canada. Learn more at www.cpicardgroup.com.

EMV is a registered trademark or trademark of EMVCo LLC in the United
States and other countries.

SEA Equity is a private investment firm backing small and medium sized
companies across the UK and Europe. SEA Equity approaches investments
with an entrepreneurial mindset and works alongside experienced
management teams to promote transformational growth through geographic
expansion, strategic acquisitions and operational improvements.

View Comments and Join the Discussion!