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OpSec Shareholders Approve Investcorp Deal

OpSec Security Group PLC (AIM:OSG) shareholders have approved Investcorp Technology Partners‘ acquisition of a 29.8% ownership position. OpSec makes anti-counterfeiting protection technologies. The deal is worth a total of around £15.8 million.


Investcorp Technology Partners, the technology private equity arm of alternative investment manager Investcorp, announced today that the shareholders of OpSec Security Group plc (AIM:OSG) have approved Investcorp’s acquisition of a 29.8% stake in the maker of anti-counterfeiting protection technologies and services.

Investcorp’s investment includes a 7.6 million pounds Sterling subscription for newly issued preference shares and common equity, as well as a US$13.0 million (8.2 million pounds) shareholder note to fully refinance the company’s outstanding bank loan facilities.

“This investment allows us to participate in the high-growth market for global brand protection and ID & banknote security technologies and solutions, which have significant barriers to entry,” said Hazem Ben-Gacem, Co-Head of Investcorp Technology Partners. “We are pleased to back OpSec’s management initiatives and strategy in taking advantage of the growth opportunities in this attractive market place.”

As part of the transaction, Investcorp will name two directors to the OpSec board: Mr Ben-Gacem and Anand Radhakrishnan, a partner with Investcorp Technology Partners and based in New York.  Both men sit on the boards of several high-growth technology companies with trans-Atlantic operations and investor bases. The additions will expand the board to six members.

The transaction comes on the heels of Investcorp’s recent investment in the identity theft and fraud protection company CSIdentity, highlighting Investcorp’s expectations for growth in the market for solutions that secure personal and corporate identities as well as intellectual property.

“Investcorp’s financial and operational expertise will give OpSec greater resources and flexibility to invest in global growth initiatives and enhance shareholder value,” said David Mahony, Chairman of OpSec. “We expect market conditions to improve in 2010, and our partnership with Investcorp will help us take advantage of opportunities that arise.”

OpSec’s products and services protect corporate brands and secure the integrity of government issued identification, banknotes and high-security documents across the world. Its clients include major apparel and athletic gear makers, retailers, pharmaceutical makers, sports franchises and government agencies spanning five continents. The market for brand protection products and technology, OpSec’s largest business line, is poised to reach $11.4 billion by 2014 from approximately $6.7 billion 2009, according to estimates from the printing and publishing services firm Pira International.

About OpSec

OpSec Security Group plc (London AIM: OSG) is the global leader in providing anti-counterfeiting technologies, as well as solutions and services for physical and online brand protection, to over 300 brand owners and over 50 governments worldwide. The Group operates manufacturing facilities and laboratories in the USA and the UK, and has sales operations in the Americas, Europe, and Asia.

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About Investcorp Technology Partners

Investcorp Technology Partners is a leading private equity investor in small and medium-sized technology businesses in North America and Europe.  The team focuses on growth buyout, corporate carveout and public situation transactions.  Some of the group’s recent investments include FleetMatics, a leading SaaS telematics software solutions provider, TDX, a provider of analytic tools and services to optimize recovery of defaulted consumer debt, Sophos, one of the largest privately-owned IT security and data protection companies, and Moneybookers, Europe‘s leading independent electronic money issuer and online payment system.

Investcorp Technology Partners is part of Investcorp, a leading provider and manager of alternative investment products. It has offices in Bahrain, London and New York and is publicly traded on the London Stock Exchange (IVC) and Bahrain Stock Exchange (INVCORP).  In addition to Investcorp Technology Partners, Investcorp has four other lines of business: private equity, hedge funds, real estate and Gulf Growth Capital. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography.

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