CHARLOTTE, N.C., Nov. 07, 2016 (GLOBE NEWSWIRE) -- Mosaic Capital Partners, LLC (“Mosaic”) is pleased to announce its investment of $12.4 million in mezzanine debt to Plasticard Locktech International (“PLI” or the “Company”). PLI, the world's largest hotel keycard and gift and loyalty card manufacturer, utilized this capital in its acquisition of PSA, a premier closed loop card manufacturer and provider of holistic card marketing solutions.
Peter Krauss, CEO of PLI, commented, “We are extremely excited to welcome PSA to the PLI family. We couldn’t have done this without the help of our financial partners, and with PLI being employee-owned, Mosaic’s ESOP expertise made them a great fit.”
Steve Buchanan, one of Mosaic’s Managing Partners, added, “The employee owners at PLI have done a standout job building and growing their business, and we’re thrilled to be a part of that process going forward. PSA’s synergies with PLI puts the company in an excellent position to continue their remarkable achievements.”
PSA’s former President and CEO, Jim Cyze, will now become Executive Vice President of Business & Product Development at PLI. The acquisition expanded PLI’s production volume from 1.1 billion cards per year to 1.6 billion cards, with an even greater capacity for production. This acquisition doubles the PLI facilities to four in two new locations and grows the production space from 300,000 to 450,000 square feet across the country.
Other funding sources included JPMorgan and Salem Investment Partners.
About Plasticard Locktech International
Plasticard Locktech International (“PLI”) is a global provider of card production, card personalization, fulfillment, direct mail and all print services with four production facilities and warehouses located in Asheville, NC; North Las Vegas, NV; Romeoville, IL; and St. Louis, MO. PLI is an employee-owned company with more than 1,000 employees nationwide. PLI is the largest manufacturer of cards produced from a variety of materials, producing more than 1.6 billion cards per year.
About Mosaic Capital Partners, LLC
Mosaic Capital Partners, LLC (“Mosaic”) is a private investment firm providing mezzanine debt and equity to privately held lower middle market companies looking to drive value and growth. Based in Charlotte, NC, Mosaic employs traditional private equity buyout strategies while also applying the partners’ unique expertise in Employee Stock Ownership Plans (ESOPs). Mosaic aims to help business owners achieve liquidity, wealth transfer and ownership transition goals by offering capital and strategic guidance.