Parallel49-backed CPI sells U.K. business to SEA Equity

CPI Card Group Inc (Nasdaq, TSX: PMTS), a Littleton, Colorado-based provider of financial payment cards and related services, has sold its U.K. business to SEA Equity, a British private equity firm. No financial terms were released. CPI said the transaction will allow the company to sharpen its focus on core businesses, including card manufacturing, personalization, instant issuance and prepaid. CPI, which went public in 2015, is a portfolio investment of Canadian private equity firm Parallel49 Equity. Parallel49's predecessor, Tricor Pacific Capital, acquired the company in 2007.

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