CompoSecure: Heavy Metal - [Business Breakdowns, EP.232]

In this episode of Business Breakdowns, Matt Reustle interviews Parsa Kiai, founder and CIO of Steamboat Capital, about CompoSecure, a company that manufactures premium metal credit cards. They discuss the company's history, its dominant position in the industry, and the potential opportunities in digital storage. The conversation also covers the impact of Dave Cody's involvement, his M&A track record, and the unique corporate structure they've created. Kiai explains CompoSecure's relationships with major issuers like American Express and Chase, the competitive landscape, and the potential threats from mobile payment systems like Apple Pay. The discussion also delves into CompoSecure's financial performance, including gross and EBITDA margins, revenue growth, and the potential of its Arculus business. Finally, they touch on the Resolute Holdings spin-off and the potential for future M&A activity under Dave Cody's leadership.