PLI Card Marketing Solutions, a portfolio company of Platinum Equity, has acquired California-based Harvard Card Systems, a maker of plastic card products. No financial terms were disclosed. Lincoln International was Harvard Card Systems’ investment banking representative on the transaction.
LAS VEGAS, Oct. 22, 2018 (GLOBE NEWSWIRE) — Platinum Equity portfolio company PLI Card Marketing Solutions announced today that it has acquired Harvard Card Systems, a leader in the card printing and gift card manufacturing industry. Terms of the transaction were not disclosed.
Founded in 1996 and headquartered in City of Industry, CA, Harvard produces a broad range of plastic card products for more than 2,500 customers in a variety of sectors, including gifting, hospitality, entertainment, retail and gas, transportation, access control, government, healthcare and more. The company offers an integrated suite of services that includes in-house product design, specialty printing, magnetic striping, cutting, coating, personalization, affixing, packaging and shipping expertise.
PLI CEO Peter Krauss said Harvard is a great fit for PLI.
“Harvard has a comprehensive product offering, a large and diverse customer base, and a history of growth that goes back more than 20 years,” said Mr. Krauss. “The company has a proven track record of innovation that will help bolster our technology and manufacturing platforms. We are thrilled to welcome Harvard to the PLI family.”
Platinum Equity acquired PLI in June as the firm began investing from Platinum Equity Small Cap Fund, L.P., a $1.5 billion buyout fund focused on investment opportunities in the lower middle market.
“PLI is a great platform and we are moving quickly to help the company grow,” said Platinum Equity Partner Jacob Kotzubei. “We have created a rich pipeline of M&A opportunities with an emphasis on related and complementary product offerings, geographic reach, and opportunities to elevate PLI’s automation and technology capabilities. At the same time, our operations team is working closely with PLI to install best practices throughout the organization and will ensure a seamless integration with Harvard and any additional acquisitions that follow.”
Headquartered in Las Vegas, NV, PLI is a leading provider of gift, loyalty and membership card marketing solutions, including card production, personalization, fulfillment, direct mail and print services. PLI is also the world’s largest manufacturer of hotel keycards. In 2017, the company produced approximately 1.6 billion gift, loyalty and hotel cards across all segments.
Gibson, Dunn & Crutcher LLP served as Platinum Equity’s and PLI’s legal counsel on the acquisition. Leech Tishman served as legal counsel to Harvard.
Lincoln International served as exclusive investment banking representative to Harvard on the transaction.
PLI is a global provider of card production, card personalization, fulfillment, direct mail, advertising and marketing collateral and all print services with four production facilities and warehouses located in Asheville, NC, North Las Vegas, NV, Romeoville, IL and St. Louis, MO, including international worldwide customer support through distribution centers in Canada and the Netherlands. PLI is a leading card producer in the commercial card market with more than 1,000 employees nationwide and 450,000 square feet of total manufacturing space. The company manufactures cards produced from a variety of materials, producing more than 1.6 billion cards annually.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 200 acquisitions.