Somerset-based CompoSecure going public in $1.2B SPAC deal

Emergent provider of cryptocurrency storage and security solutions to merge with Roman DBDR Tech

Somerset-based CompoSecure Holdings, a leading provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, and Roman DBDR Tech Acquisition Corp., a special purpose acquisition company, announced Monday that they have entered into a definitive merger agreement that will create a company valued at $1.2 billion.

Upon closing of the transaction, the combined company will operate as CompoSecure Inc. and plans to trade on the Nasdaq Stock Market.

CompoSecure CEO Jon Wilk said the company is excited to partner with Roman DBDR on its path to becoming a publicly traded company.

“CompoSecure’s mission has always been to help our clients offer their customers highly differentiated payment products and solutions, which enable them to cultivate new customer acquisition, spending and retention,” he said. “We have a bold vision for where we can take this business over the next five years, as we deliver superior solutions to the payments, cryptocurrency and broader digital asset marketplace, starting with the upcoming launch of our Arculus solution in the third quarter of 2021.

“As a public company, we will have access to new sources of capital for both organic and inorganic growth opportunities, and will continue investing in innovation to support our clients and our growth plan. It is a tremendous achievement to reach this milestone in our company’s history, and I look forward to working with our great team to continue to grow this business.”

Wilk said the company appreciates the ongoing support of its lead investor, LLR Partners.

CompoSecure is a pioneer and category leader in premium payment cards and an emergent provider of cryptocurrency and digital asset storage and security solutions.

Using proprietary manufacturing methods that meet high standards of quality and security, and leading-edge engineering capabilities and technologies, CompoSecure provides some of the world’s largest banks and financial institutions, such as JPMorgan Chase and American Express, with innovative products that elevate their customers’ experience.

CompoSecure’s innovative cryptocurrency cold-storage and security solution, Arculus, leverages the company’s 20-plus years of payment card technology and security expertise to advance cryptocurrency and other digital asset adoption. Arculus enables users to store and manage their digital assets using a highly secure payment card form factor and intuitive mobile wallet, incorporating a unique three-factor authentication system.

Donald Basile, chairman and co-CEO of Roman DBDR, said a merger with CompoSecure made sense on a number of levels.

“After reviewing numerous business combination opportunities, CompoSecure stood out as a leading platform company that is highly profitable and has technology ready to enable customers to take advantage of the blockchain and digital asset revolution,” he said. “We found a broad ecosystem of hardware, software, payments and services capabilities, and look forward to building and scaling that ecosystem to an over billion-dollar net revenue stream by 2025.

“Combining CompoSecure’s proven business, focus on innovation, superior manufacturing expertise and experienced management team with Roman DBDR’s track record of creating and scaling large market opportunities, we believe this company has significant long-term growth potential.”