Credit Suisse Securities is acting as financial advisor for Harland Clarke Holdings in the transaction.
Harland Clarke Holdings will continue to be a provider of integrated payment solutions, security and transactional printing, marketing services, security and identity protection solutions, retail products, business process outsourcing, as well as data management and assessment. Harland Clarke, the companys largest business segment, services almost 12,500 financial and commercial institutions through multiple channels.
Harland Clarkes payment solutions include checks, cards and related products and services, as well as transactional documents printing that includes statements, compliance documents and communications. Its retail division services big box retailers, large direct selling businesses, and membership-based and affinity organizations by providing a variety of products and services, including checks and related products, cash management and fulfillment services, private label materials and small business marketing materials.
The sale is subject to customary closing conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in Q3 2013.
