The UK-based manufacturer of Magicard secure ID card printers has announced an investment from private equity firm LDC, part of Lloyds Banking Group, with CEO Andy Matko, pictured, and also from the company Andrew Cornelius, Alan Pickering, David Worsdell and Luis De La Cruz. As a result, the business exits the Ultra Electronics group and changes its name, from Ultra ID to Magicard Ltd.
Developed within the defence and security specialist Ultra in 1992, Magicard is a manufacturers of secure desktop ID card printers, with offices in Weymouth in the UK, Redmond in the USA, Shanghai and Dubai and globally value-added distribution partners. Operations, engineering and production will continue to centre at Weymouth and all other global offices will remain fully operational, the firm says.
Andy Matko, CEO of Magicard Ltd. said: “This is exciting news for Magicard and our global network of loyal partners. This deal, along with the recent development of our Helix retransfer printer, will enable the business to move to the next level by investing further in product development, sales and marketing. For our customers and suppliers, it will very much be business as normal, with the existing management team and global operations centres all staying in place.”
The Helix retransfer printer, launched this year after a five-year product development, is described as the only printer of its type with built-in photo-card security features, including the patented HoloKote secure watermark, that is aimed at higher volume government and banking markets.
Gordon Hague, Investment Director at LDC, said: “Andy Matko and his senior management team have built a dynamic company with a respected and trusted position in the ID market as evidenced by its broad and growing customer base. We have already identified a number of growth opportunities to expand into new industry verticals and geographies and look forward to partnering with Magicard’s management team to achieve those goals.”
