Investment firm Platinum Equity has acquired card producer PLI Card Marketing Solutions (Plasticard-Locktech International) from affiliates of PLI founders. Financial details of the transaction were not divulged.
Based in Nevada, PLI offers marketing solutions for gift, loyalty and membership cards. Its operations cover card production, personalisation, fulfilment, direct mail and printing.
PLI has four production facilities and warehouses in North Carolina, Illinois, Missouri and Nevada. The company has distribution centres in Canada and the Netherlands.
In addition, PLI also manufactures hotel keycards for brands such as Hilton, Marriott and Hyatt. The company produced around 1.6 billion gift, loyalty and hotel cards last year.
Platinum Equity partner Jacob Kotzubei said: “PLI has built an outstanding business through a combination of grit and tenacity, and we respect the company’s growth-oriented mindset and entrepreneurial spirit.
“With the support of our financial, operational and M&A resources, PLI can now reach for the next level. We see tremendous opportunities for additional growth, in both core and adjacent markets, and will help the company invest in new technologies and deploy operational best practices throughout the organisation.”
PLI CEO Peter Krauss added: “Platinum Equity shares our relentless commitment to customer service and has a proven track record of helping businesses like ours maximise their potential. Our shared vision of continued growth, while ensuring the best customer experience, makes this an exceptional match.”