Houlihan Lokey Advises Arroweye Solutions

Houlihan Lokey is pleased to announce that Arroweye Solutions (Arroweye), a leading provider of on-demand payment card solutions, has been acquired by CPI Card Group (CPI) (NASDAQ:PMTS). This acquisition aligns with CPI’s strategy to grow and diversify by adding Arroweye’s digitally driven on-demand payment card solutions to CPI’s portfolio.

Arroweye announced it has been acquired by CPI, a payments technology company providing a comprehensive range of payment cards and related digital solutions.

Arroweye is a leading provider of on-demand payment card solutions for the U.S. market, powered by a fully integrated end-to-end, digitally driven process. The company’s technology-driven platform and production capabilities eliminate the need to hold inventory and allow for hyper-personalization and rapid turnaround times. Arroweye has approximately 200 employees, with its headquarters and 75,000-square-foot production facility located in Las Vegas, Nevada.

The addition of Arroweye’s on-demand payment card solutions to CPI’s portfolio of payment card production, personalization, instant issuance, prepaid, and digital solutions will allow CPI to now offer more choices to a larger combined base of thousands of customers. In addition, CPI anticipates leveraging its resources and market position to increase Arroweye’s share and expand penetration of its solutions to new customers.

The transaction was completed upon signing on May 6, subject to customary closing adjustments. CPI funded the acquisition with a combination of cash and borrowings from its $75 million ABL revolver, which was unutilized prior to the transaction. CPI will not assume any Arroweye debt or cash in the transaction.

Houlihan Lokey acted as the exclusive financial advisor to Arroweye.

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