Who Owns CPI Card Company?

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Who Owns CPI Card Group?

Understanding CPI Card Group's ownership is key to grasping its strategy and market position. A significant milestone was its IPO on October 9, 2015, raising $150 million through 15 million shares at $10.00 each on Nasdaq and the Toronto Stock Exchange.

The company's stock trades under the tickers 'PMTS' and 'PNT'. CPI Card Group, with roots in Plastic Graphics (1982) and the acquisition of Colorado Plasticard (1995), is a payment technology firm based in Littleton, Colorado.

CPI Card Group offers a range of payment solutions, including physical, digital, and virtual products for financial institutions, retail, healthcare, and transit. As of August 13, 2025, its market capitalization is $0.16 billion. This analysis explores the company's ownership journey, from early investors to its current public and institutional shareholders, examining how these shifts have influenced its governance and strategic direction. For a deeper dive into its market environment, consider a CPI Card PESTEL Analysis.

The origins of CPI Card Group trace back to 1982 with the establishment of Plastic Graphics in San Diego. Antonio Accornero acquired this company in 1987, transforming it into a technologically advanced operation focused on the growing prepaid phone card market.

Founding of Plastic Graphics Established in 1982 in San Diego, this was the initial entity that would evolve into CPI Card Group. Accornero's Acquisition and Growth Antonio Accornero acquired Plastic Graphics in 1987 and relocated it to Los Angeles, driving its expansion. Acquisition of Colorado Plasticard In 1995, Accornero acquired Colorado Plasticard, a move that contributed to the company's rebranding and growth. Evolution to CPI Card Group The company eventually became known as CPI Card Group, signifying its broader focus on secure payment cards. Founder's Retirement and PE Partnership Antonio Accornero retired in late June 2007, leading to a significant ownership change. Tricor Pacific Capital's Ownership Tricor Pacific Capital, Inc. became the owner of CPI Card Group following Accornero's retirement.

While the initial equity structure and early investor details are not publicly disclosed, the company's trajectory was heavily influenced by Accornero's strategic vision for the secure payment card sector. A pivotal moment in the CPI Card Group ownership history occurred in late June 2007 when Antonio Accornero retired. This transition led to a partnership with Tricor Pacific Capital, Inc., a private equity firm, which effectively assumed ownership of the company. Key management figures, including Bob Clarke, Russ McGrane, and Scott Heck, also acquired shares in the company as part of this arrangement. This shift marked a transition from founder-centric ownership to a structure backed by private equity, with Tricor Pacific Capital adopting a supportive, rather than directly managerial, role. Understanding this transition is key to grasping the CPI Card Group company structure and its subsequent development, offering insights into the CPI Card Group investors and the broader CPI Card Group history.

Early Ownership Dynamics

The early ownership of CPI Card Group was primarily shaped by its founder, Antonio Accornero, and his strategic decisions. The company's evolution from a small operation to a significant player in the card manufacturing industry highlights the impact of focused leadership and strategic acquisitions.

• Founded as Plastic Graphics in 1982.
• Acquired and expanded by Antonio Accornero starting in 1987.
• Acquired Colorado Plasticard in 1995, leading to rebranding.
• Transitioned to private equity ownership under Tricor Pacific Capital in 2007.
• Key management personnel also became shareholders in 2007.

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The ownership structure of CPI Card Group experienced a significant shift with its initial public offering (IPO) on October 9, 2015. This event transitioned the company from private ownership under Tricor Pacific Capital to a publicly traded entity on the NASDAQ Global Select Market and the TSX, raising over $172.5 million.

Following its IPO, CPI Card Group's ownership has been characterized by the significant presence of institutional investors and mutual funds. While institutional investors held approximately 31.13% of the company's shares as of April 2025, mutual funds accounted for 16.14% during the same period. Insider holdings represented a smaller portion, at 1.61% in April 2025. A notable former significant shareholder, Parallel49 Equity, ULC, which manages Tricor Funds, saw its ownership stake decrease from 56% to 43% in 2024 through a secondary offering. This evolution in CPI Card Group ownership reflects its journey as a publicly traded company, with its market capitalization standing at $177 million with 11.3 million shares outstanding as of August 18, 2025. Understanding who owns CPI Card Group involves recognizing the influence of these diverse investor groups. For a deeper dive into the company's past, explore the Brief History of CPI Card.

Key Stakeholders in CPI Card Group

Institutional investors and mutual funds are the primary external stakeholders in CPI Card Group. Their holdings represent a substantial portion of the company's equity.

• Institutional investors held 31.13% as of April 2025.
• Mutual funds increased their stake to 16.14% by April 2025.
• Insider holdings were 1.61% in April 2025.
• Parallel49 Equity, ULC was a significant former shareholder.
• The company became publicly traded in 2015.

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As of April 2024, the board of directors for CPI Card Group comprises eight members. The majority of these directors are nominated for re-election for a term extending to the 2025 annual meeting of stockholders. Key figures include H. Sanford Riley as Chairman and John Lowe serving as President and Chief Executive Officer.

The voting power within CPI Card Group operates on a straightforward one-share-one-vote principle. This means that each share of common stock held by a stockholder as of the designated record date carries a single vote on all matters presented at the Annual Meeting. There are no provisions for dual-class shares or other arrangements that would grant disproportionate voting rights to any specific shareholder or group. The company's governance structure, as detailed in its Third Amended and Restated By-Laws, dictates the procedures for electing directors and conducting other corporate business. The 2024 Annual Meeting, held virtually on May 22, 2024, included votes on the election of the eight director nominees, the appointment of KPMG LLP as the independent registered public accounting firm for 2024, and an advisory resolution on executive compensation. Understanding this structure is crucial for comprehending CPI Card Group ownership and the influence of its investors.

Director Election and Shareholder Influence

The election of directors and other key corporate decisions are determined by the voting power of shareholders. This system ensures that each share contributes equally to the company's governance.

• One-share-one-vote system in place.
• No dual-class shares or special voting rights.
• Board nominees are subject to shareholder approval.
• Shareholder voting impacts executive compensation votes.
• Understanding this is key to CPI Card Group shareholder information.

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Over the past few years, CPI Card Group has seen shifts in its leadership and financial structure. Key developments include a change in CEO and significant debt refinancing, alongside strategic acquisitions aimed at expanding its service offerings.

The company's strategic direction is also being influenced by evolving industry demands, such as the growing preference for eco-friendly and contactless payment solutions. CPI Card Group has been a participant in this trend, having distributed over 100 million eco-focused cards between 2019 and the end of 2023. For 2025, the company has projected mid-to-high single-digit growth in net sales and Adjusted EBITDA, with an updated net sales guidance of low double-digit to mid-teens growth, partly attributed to the Arroweye acquisition.

Leadership Transition

John Lowe took over as CEO in January 2024. This leadership change is a significant event in the company's recent history.

Financial Restructuring

In 2024, the company completed a substantial debt refinancing. This involved issuing new secured notes and establishing a new credit facility.

Strategic Acquisition

The acquisition of Arroweye Solutions in May 2025 for $45.55 million is a key move. It aims to bolster the company's digital payment card offerings.

Market Adaptation

The company is responding to market trends like eco-friendly cards. Over 100 million such cards were sold by the end of 2023.

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