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CompoSecure / DBDR Going Beyond Metal Cards into Crypto with CEOs Jon Wilk & Don Basile

The leader in metal cards is set to go public via Roman DBDR Tech Acquisition Corp (DBDR). CompoSecure CEO Jon Wilk and DBDR CEO Don Basile discuss on our podcast.

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CompoSecure is the market leader in metal credit card production and counts American Express and JP Morgan Chase among its partners (see Platinum and Chase Sapphire cards anyone?). The metal cards business is established and mature, with 40% margins while generating over $260M in revenue in 2020. 

However, CompoSecure has new ambitions to tap into the crypto craze by offering a cold storage solution for crypto holders. In essence, you'll be able to store your crypto assets on a physical card that the company says is safer and more reliable than traditional hot storage. If it succeeds, growth could be huge in accessing some of the TAM that the crypto market potentially has. 

In addition, CompoSecure has struck a SPAC merger deal with Roman DBDR Tech Acquisition Co, valuing the company at $1.2B (or just ~4.2x 2021E net revenue). Listen to CompoSecure CEO Jon Wilk and Roman DBDR CEO Dr. Don Basile discuss their careers, CompoSecure's prospects, why people still need physical cards, and why you should buy a share. 

CompoSecure / Roman DBDR Tech Acquisition Overview

Announced: 4/19/2021
EV: $1.2B
Trust Size: $236M
Investor Deck

CompoSecure's Projected Future Revenue Mix

comporevmix

About Jon Wilk

Jon Wilk is the Chief Executive Officer (CEO) and President of CompoSecure where he leads all aspects of the business including Sales and Business Development, Manufacturing, R&D, and Marketing activities of the company.

Jon brings more than 20 years of experience in banking, management consulting, and private equity portfolio companies which will help drive the future growth of CompoSecure. He most recently served as President of PayChoice (acquired by Sage Software), a leading provider of SaaS-based payroll, HR, and tax-filing solutions with similar responsibilities.

Prior to PayChoice, Jon was with JPMorgan Chase, where he joined as the Head of Product and Chief Marketing Officer for the Consumer Bank. He was responsible for checking, savings, debit, and prepaid products as well as brand and advertising and sponsorships for consumer banking. He has also held several senior positions at Bank of America Merrill Lynch, including the Global Head of Product for Treasury Services and the Head of Consumer and Small Business Deposits. Prior to his banking experience, Jon was a management consultant with firms including Booz, Allen and Hamilton and Mercer Management Consulting.

About Dr. Don Basile

Dr. Donald G. Basile is Chairman and Co-Chief Executive Officer of Roman DBDR Tech Acquisition Co. Dr. Basile has also served as an executive officer and director at Monsoon Blockchain Corporation since November 2019 and as a director of GIBF, GP Inc. since September 2018

Dr. Basile previously served as a director of Violin Memory, Inc. from April 2009 to January 2014 and as its Chief Executive Officer from April 2009 to December 2013. He also served as Chief Executive Officer of FusionIO from January 2008 to March 2009 and as its Chairman from July 2006 to March 2009. Dr. Basile previously worked at AT&T Bell Labs, IBM, United Health Group and Lenfest Group (acquired by Comcast) and served as Managing Director of Raza Foundries and Vice President of Raza Microelectonics (RMI).

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(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)