CompoSecure, a luxury credit-card maker, is up for sale according to a Jan. 6 Barron’s report.
The Somerset-based company, which is backed by LLR Partners of Philadelphia, is currently conducting chats with potential buyers and seeking bids of $1.5 billion.
FT Partners is advising on the process.
Founded in 2000, CompoSecure is known for the metal cards it makes for affluent customers of American Express and Capital One. The cards, which are often made out of titanium or stainless steel, are considered a status symbol.
LLR Partners and Private Capital Research invested $154 million in CompoSecure in 2015, according to PitchBook.
CompoSecure did not return a request for comment by press time.