Resolute Holdings Management, Inc.

RHLD

$137.46

-0.76%

2026-09-04 12:24:14 EDT-$1.05

Industrials

Specialty Business Services

NYSE

Active Trading

Resolute Holdings Management, Inc., established in 2024 and headquartered in New York, New York, operates as a comprehensive platform for alternative asset ...

Supply Chain of RHLD

Upstream

Foundry, packaging, memory, wafers, components, and input vendors.

Upstream

Infineon Technologies AG

North American Stainless Steel Suppliers (e.g., Nucor, AK Steel / Cleveland-Cliffs)

Bosch Rexroth AG

Siemens AG

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

Thales DIS (formerly Gemalto)

NXP Semiconductors N.V.

NASDAQ:NXPI

EMV secure chip and microcontroller supplier for metal payment cards (CompoSecure)

Infineon Technologies AG

ETR:IFX

Security chip and embedded secure element supplier for payment cards and authentication (CompoSecure / Arculus)

North American Stainless Steel Suppliers (e.g., Nucor, AK Steel / Cleveland-Cliffs)

Primary raw material — recycled stainless steel sheet for metal card blanks (CompoSecure uses 65% post-consumer recycled stainless steel)

Bosch Rexroth AG

ETR:BOS

Hydraulic systems and servo-drive components for Husky injection molding machines

Siemens AG

ETR:SIE

Industrial automation, PLC controllers, and drive systems for Husky injection molding equipment

Downstream

Customers, distributors, OEMs, and channels that absorb output.

Downstream

Capital One Financial Corporation

Other Banks & Fintechs (e.g., Citi, Wells Fargo, SoFi, Brex, Ramp)

PepsiCo, Inc. / Coca-Cola Bottling Systems

GPGI, Inc. (CompoSecure Holdings / Husky Holdings)

Visa Inc. / Mastercard Inc.

JPMorgan Chase & Co.

NYSE:JPM

Largest customer for CompoSecure metal payment cards (Chase Sapphire Reserve, J.P. Morgan Reserve, etc.). Represents ~42% of CompoSecure revenue. · 42.0%

American Express Company

NYSE:AXP

Second-largest customer for CompoSecure metal payment cards (Amex Platinum, Centurion, Gold cards). Represents ~29% of CompoSecure revenue. · 29.0%

Capital One Financial Corporation

NYSE:COF

Key fintech customer for premium metal cards (Venture X, Venture, Spark Miles). Growing share of CompoSecure's diversified customer base.

Other Banks & Fintechs (e.g., Citi, Wells Fargo, SoFi, Brex, Ramp)

Diversified base of financial institutions and fintechs issuing premium metal cards through CompoSecure's manufacturing programs.

PepsiCo, Inc. / Coca-Cola Bottling Systems

NASDAQ:PEP

End-market customers for Husky's PET preform injection molding systems used in beverage packaging production.

Proxies

Public comparables and monitoring names used as representatives for the analysis.

Proxies

CompoSecure LLC (legacy stand-alone)

IDEMIA Group

Haitian International Holdings Ltd.

Blackstone Inc. / Apollo Global Management

GPGI, Inc.

NYSE:GPGI

GPGI is the operating entity that RHLD manages. GPGI owns CompoSecure and Husky Technologies, which generate all the operational EBITDA that flows into RHLD's management fees. As the sole source of RHLD's income, GPGI is the most direct performance proxy.

CompoSecure LLC (legacy stand-alone)

Unconfirmed

CompoSecure was the pre-merger entity (formerly NASDAQ:CMPO) and the historical driver of RHLD's fee base. Its metal card market leadership (~75% share) and relationship with JPM/Amex define the business quality.

IDEMIA Group

Unconfirmed

IDEMIA (owned by Advent International) is CompoSecure's primary competitor in metal payment cards and a proxy for the card manufacturing industry landscape.

Haitian International Holdings Ltd.

HKEx:1882

The world's largest injection molding machine manufacturer by volume. Publicly traded competitor/proxy for Husky Technologies' end-market dynamics and valuation multiples in the plastics machinery sector.

Blackstone Inc. / Apollo Global Management

NYSE:BX

Alternative asset manager peers. While RHLD is much smaller and structured as a management company rather than an AUM-driven firm, its fee-based model has conceptual parallels to asset/wealth management fee structures.

Geographic

Region-level exposures that can distort the supply network.

Geographic

United States (primarily Somerset, NJ; Bolton, ON Canada)

European Union / Germany

Taiwan

CompoSecure LLC

Husky Technologies

Infineon Technologies AG

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

United States (primarily Somerset, NJ; Bolton, ON Canada)

Production concentration

CompoSecure LLCNYSE:GPGIAll metal card manufacturing is concentrated in Somerset, New Jersey facilities. Single-site production risk for the entire payment card business.

Husky TechnologiesNYSE:GPGIHeadquarters and main manufacturing in Bolton, Ontario, Canada. Additional facilities in US, Luxembourg, Switzerland, India, China.

European Union / Germany

Semiconductor supply dependency

Infineon Technologies AGETR:IFXKey EMV chip supplier based in Germany. European semiconductor supply chain subject to geopolitical and regulatory risks.

Taiwan

Foundry dependency for semiconductor wafers (indirect)

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)NYSE:TSMCritical indirect supplier — manufactures wafers for NXP and Infineon EMV chips used in CompoSecure cards. Geopolitical tensions in Taiwan Strait pose supply disruption risk.

Global (beverage/food packaging end markets)

End-market demand cyclicality

PepsiCo, Inc.NASDAQ:PEPRepresents the beverage/food packaging customer base for Husky's PET injection molding systems — cyclical consumer demand.

Concentration

Customer, supplier, or partner concentration exposures that can distort the supply network.

Customer

Critical

Extreme customer concentration — JPMorgan Chase and American Express together represent ~70%+ of CompoSecure's revenue. Loss of either would severely impact GPGI's EBITDA and RHLD's management fees.

Other

Critical

Single-client dependency — RHLD derives 100% of its stand-alone revenue from one customer: GPGI, Inc. (and Husky Holdings). The management agreement structure means RHLD's viability is entirely tied to GPGI's operational performance.

Foundry

High

Semiconductor chip supply concentration — EMV chip supply depends on a small number of global suppliers (NXP, Infineon) who in turn depend on TSMC and other foundries. Any disruption could impair card manufacturing.

Equipment

Medium

Husky operates in the cyclical injection molding machinery market with significant competition (ENGEL, KraussMaffei, Arburg, Haitian). Market share is ~2.1% of US plastic machinery industry. Cyclical downturns in packaging/consumer goods could materially impact Husky's revenue.

Revenue mix

How the target's revenue mix translates into supply-chain leverage and dependency.

CompoSecure — Metal Payment Cards & Authentication Solutions

100.0%

$0.5B

For FY2025 (pre-Husky), 100% of consolidated net sales came from CompoSecure's metal card manufacturing. This segment drives demand for stainless steel sheet metal, EMV semiconductor chips, RFID components, and precision finishing services. CompoSecure holds ~75% market share in metal payment cards.

Husky Technologies — Injection Molding Systems (Post-Acquisition)

Acquired Jan 2026. Q1 2026 Husky contributed $277.4M of $407.8M total net sales (68%). Drives demand for industrial steel, hydraulic components, electric servo motors, precision machining, and control electronics. Serves beverage packaging, food packaging, and medical end markets.

RHLD Standalone — Management Fees (Non-GAAP Fee-Related Earnings)

RHLD's stand-alone revenue derives solely from management fees (2.5% of GPGI/Husky LTM Adj. EBITDA). The operating businesses (CompoSecure and Husky) are the value drivers that determine fee income.

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Resolute Holdings Management, Inc.

Supply Chain of RHLD

Upstream

NXP Semiconductors N.V.

Infineon Technologies AG

North American Stainless Steel Suppliers (e.g., Nucor, AK Steel / Cleveland-Cliffs)

Bosch Rexroth AG

Siemens AG

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

Thales DIS (formerly Gemalto)

Downstream

JPMorgan Chase & Co.

American Express Company

Capital One Financial Corporation

Other Banks & Fintechs (e.g., Citi, Wells Fargo, SoFi, Brex, Ramp)

PepsiCo, Inc. / Coca-Cola Bottling Systems

GPGI, Inc. (CompoSecure Holdings / Husky Holdings)

Visa Inc. / Mastercard Inc.

Proxies

GPGI, Inc.

CompoSecure LLC (legacy stand-alone)

IDEMIA Group

Haitian International Holdings Ltd.

Blackstone Inc. / Apollo Global Management

Geographic

United States (primarily Somerset, NJ; Bolton, ON Canada)

European Union / Germany

Taiwan

View More

Supply Chain of RHLD

Upstream

NXP Semiconductors N.V.

Infineon Technologies AG

North American Stainless Steel Suppliers (e.g., Nucor, AK Steel / Cleveland-Cliffs)

Bosch Rexroth AG

Siemens AG

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

Thales DIS (formerly Gemalto)

Downstream

JPMorgan Chase & Co.

American Express Company

Capital One Financial Corporation

Other Banks & Fintechs (e.g., Citi, Wells Fargo, SoFi, Brex, Ramp)

PepsiCo, Inc. / Coca-Cola Bottling Systems

GPGI, Inc. (CompoSecure Holdings / Husky Holdings)

Visa Inc. / Mastercard Inc.

Proxies

GPGI, Inc.

CompoSecure LLC (legacy stand-alone)

IDEMIA Group

Haitian International Holdings Ltd.

Blackstone Inc. / Apollo Global Management

Geographic

United States (primarily Somerset, NJ; Bolton, ON Canada)

European Union / Germany

Taiwan

View More