CompoSecure (CMPO) Strikes $5 Billion Deal for Husky Technologies Backed by Honeywell’s Former CEO
David Cote, former CEO of Honeywell International (HON), is spearheading a major acquisition through CompoSecure (CMPO). The company plans to purchase Husky Technologies, a manufacturer of injection-molding machines, in a deal valued at approximately $5 billion, including debt. The transaction, expected to be announced imminently, underscores Cote's strategy to expand CompoSecure's portfolio through Resolute Holdings, the firm he controls alongside ex-Goldman Sachs banker Tom Knott.
CompoSecure, renowned for its metal credit cards, has seen its shares surge 56% year-to-date, closing at $19.86 on Friday. The Husky acquisition will be partially financed via a $2 billion private investment in public equity (PIPE), priced at $18.50 per share. Husky, founded in 1953, produces machinery for plastic packaging, medical devices, and consumer goods, and was last acquired by Platinum Equity in 2018 for $4 billion.
