CPI Acquires Certain Assets of PCS
CPI Card Group today announced that it has acquired certain assets of Premier Card Solutions (PCS), formerly known as UV Color, Inc. The transaction between PCS’s secured creditors and CPI closed on March 9, 2010.
Based in Roseville, MN, PCS is a leading player in the design, manufacturing, data personalization, packaging and fulfillment of secure prepaid debit cards and retail gift cards. PCS is one of a limited number of companies in North America certified by VISA, MasterCard, American Express and Discover to provide their issuers with card products and services. PCS is a principal supplier to many of the largest and most prestigious prepaid debit card issuers in North America and specializes in providing data personalization services and tamper-evident security packaging to this market.
CPI has acquired the assets of PCS’s secure prepaid debit card business which will continue to operate at its existing location in Roseville, Minnesota. Many of PCS’s former employees and management have also joined the CPI team and will continue to provide the same high-level of quality, service and performance expected by its prepaid debit card customers. Additionally, CPI has acquired various other financial and intangible assets and equipment of the former PCS business.
“PCS is the leader in data personalization and packaging, particularly tamper-evident security packaging for the secure prepaid debit card market, due to its design and innovation expertise, production experience, strong quality systems and excellent customer relationships,” said Steve Montross, President of CPI Card Group. “The combination of PCS’s capabilities with CPI’s strengths in manufacturing and data personalization provide our combined customer base complete end-to-end solutions for their card production, personalization, packaging and fulfillment needs.”
“Joining CPI Card Group is an extremely exciting and positive development for PCS, our employees and customers,” commented Dan Frederickson, PCS’s former President who has joined CPI as a key member of its senior leadership team. “CPI Card Group’s resources and global capabilities along with the excellent match with PCS’s team make us a great combination. This can only be good news for all our customers, and it provides significant opportunities to further reinforce our solid reputation for first class products, services and solutions.”