Cavendish advises on the sale of the Plastic Card Company

Published August 31, 2008

Cavendish Corporate Finance LLP is pleased to have advised on the sale of The Plastic Card Company Ltd and PCC Services Ltd ('PCC') to CPI Card Group for a consideration of £11 million.

PCC is one of Europe's leading suppliers of non-secure plastic cards and related services and comprises the plastic cards design, production and distribution business unit of PAC Digimedia.

Following a strategic review, PAC recognised that PCC operates in an increasingly competitive environment that will require the deployment of substantial resources to develop new products and services in the medium term. Its sale to CPI Card Group will provide PCC with the necessary investment and expertise to ensure its continued success and growth and will also allow PAC to focus on its core business areas.

CPI Card Group is a global supplier of plastic secure card products such as credit, debit and ATM cards to major financial institutions and non-secure card products and services such as retail gift cards, retail credit cards and entry access cards.

John Farrugia, Associate Director at Cavendish who worked on the deal, commented:

''We were delighted to help find a suitable buyer for PCC and at the same time secure an excellent deal for its stakeholders.''