GPGI, Inc. (NYSE: GPGI) began Friday trading with a decreased price. The company, claiming to be a diversified multi-industry compounder comprised of companies with great positions in good industries, completed its previously announced rebranding from CompoSecure, Inc.
In conjunction with the name change, the Company’s Class A common stock will begin trading under the new name and ticker symbol “GPGI” on the New York Stock Exchange at the opening of trading of January 23.
“GPGI,” to quote Friday’s news release, “reflects our core philosophy of acquiring and operating businesses that hold ‘Great Positions in Good Industries.’”
The release goes onto say the name change follows the evolution of CompoSecure from a single operating business into a permanent capital platform purpose-built to acquire, own, and scale great businesses that benefit from the systematic deployment of the Resolute Operating System.
Going forward, both CompoSecure and Husky will retain their existing trade names and be two distinct reporting segments operating independently as part of GPGI’s permanent capital platform. CompoSecure and Husky will have their own management teams and will be managed by Resolute Holdings Management, Inc.
GPGI shares 44 cents, or 1.7%, to $24.72.
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