Husky to be bought by CompoSecure; deal valued at US$5 bn

Fintech firm CompoSecure, which is backed by former Honeywell CEO David Cote, is set to buy Canadian injection moulding machinery firm Husky Technologies from its current owner Platinum Equity for around US$5 billion, including debt. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approval.

The Husky deal will be partly funded by a roughly US$2 billion PIPE, or private investment in public equity, that is expected to be offered at US$18.50 per share of CompoSecure common stock.

Platinum Equity bought Husky from Berkshire Partners and Omers Private Equity for approximately US$4 billion in 2018.

Husky was founded in 1953 by entrepreneur Robert Schad. Headquartered in Ontario, Canada, it operates more than 40 plants and sales offices in Canada, the US, Luxembourg, Austria, Switzerland, Czech Republic, China and India, with around 4,000 employees.

Husky manufactures a wide range of injection moulding machines, injection moulds, hot runners, robots, and auxiliary systems. Its machinery is used to create a variety of plastic products, including medical devices and beverage containers, controlling more than 50% of the global market for PET processing systems.

Last year, Cote and former Goldman Sachs banker Tom Knott acquired a majority stake in CompoSecure as their next act, with the plan to use the entity as a platform for future deals. The maker of metal payment cards, security, and authentication solutions has a market value of over US$2 billion.

Cote’s family office already has around US$1.1 billion invested in CompoSecure that will be rolled into the deal, and Platinum will roll over about US$1 billion to keep a little less than a 20% stake in the combined business.

Dave Cote, Executive Chairman of CompoSecure, said in the announcement: “We are delighted to announce the business combination with Husky. This is a business Tom [Knott] and I have long admired, and it hits all the key criteria we look for in every investment – it holds a great position in a good industry, significant technology differentiation, organic and inorganic growth possibilities, and margin expansion potential. We are excited to begin working with the Husky team and believe the combined business is uniquely well positioned to deliver for investors.”

The announcement noted that Husky will be run as a standalone business alongside CompoSecure and will continue to operate under its current management team.

Husky Technologies CEO, Bradley Selleck, said, “Husky Technologies will build on the strong foundation we’ve established over our 72-year history,” explained Selleck. “With CompoSecure’s long-term partnership, we will continue to invest in the technologies, systems and capabilities that matter most to our customers and team members. Our focus remains on delivering high performance, reliability, service excellence and innovation.”

Selleck underscored there will be no immediate changes to operations or customer experience.

“Husky will continue executing its current growth strategy, with sustainability and innovation remaining central to its future pipeline,” Selleck added in the statement issued.

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