What Cartor Security Printers does

Cartor Security Printers is a UK-headquartered security printing company with manufacturing operations in Wolverhampton (UK) and Meaucé (France), operating as a wholly-owned division of Spectra Systems Corporation (SPSY.L). The company produces security-printed postage stamps, tax and revenue stamps, security documents, brand protection labels, and end-to-end regulated product authentication solutions, notably the UK Vaping Duty Stamp Programme delivered in partnership with SICPA. Its technology stack combines physical security features (reactive inks, holograms, security threads, microtext, guilloche, rainbow print, 30+ distinct security features) with digital track-and-trace capabilities, including hybrid digital print systems integrating Domino N617i UV inkjet, K600i monochrome barcode, ABG Omega Converter finishing, and Lake Image inspection. Following the Spectra acquisition, Cartor also markets Fusion polymer banknote substrates for central bank specifications.

Cartor serves a globally distributed customer base of more than 180 postal administrations, multiple tax and revenue authorities, government document issuers, brand protection clients in medical, computer, and automotive sectors, and UK vaping industry participants required by HMRC to affix duty stamps by October 2026 and April 2027 enforcement deadlines. The company holds ISO 14298:2021 (security printing processes), ISO/IEC 27001:2022 (information security), ISO 9001, ISO 14001, ISCC Plus, FSC Chain of Custody, and UK Cyber Essentials certifications across its sites. Distribution is primarily direct-to-government through enterprise sales motions, with a self-serve secure online portal layered in for the vaping duty stamp programme and an EPCIS 1.2 ingestion API supporting integration with regulated customer systems.

Cartor monetizes through product sales (stamps, substrates, labels, documents), professional services including hand assembly and fulfilment (15+ years of operation, same-day pick and pack for orders placed before midday, 500–5,000 daily order throughput for one anchor fulfilment client), and unit-priced vaping duty stamps (MOQ 1,000 stamps, 15-day lead time). Revenue is not publicly disclosed and the company operates as a private subsidiary of a small-cap London-listed parent.

Name

Cartor Security Printers

Legal name

Cartor Security Printers Ltd

Website

https://cartor.com

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

51–100 employees

Short description

Cartor Security Printers is a UK- and France-based security printing company producing postage stamps, tax stamps, security documents, brand protection labels, and UK vaping duty stamps, plus Fusion polymer banknote substrates following its acquisition by Spectra Systems Corporation. It serves 180+ postal administrations and regulated industries globally under ISO 14298 certification.

Ownership category

akta.pro rank

Product category

Security Printing Services

NAICS

Commercial Printing (except Screen and Books) (323111), Packaging and Labeling Services (56191)

SIC

Commercial Printing (2750)

akta.pro primary industry

Security, Tamper-Evident & Track-and-Trace Printing (IMALAKAJ)

akta.pro secondary industries

Folding Carton & Paperboard Packaging Printing (IMALAKAH), Tamper-Evident Folding Cartons & Paperboard Features (TE Carton Locks, Tear Strips) (IMALANAH)

Keywords

• Security printing services
• Postage stamp production
• Tax revenue stamps
• Brand protection labels
• Polymer banknote substrates

Headquarters

HQ city

Wolverhampton

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Security Printing Products: Core revenue from printing postage stamps, tax stamps, revenue stamps, security documents, and brand protection labels. Products include conventional and hybrid postage stamps, tax stamps, vouchers, coupons, certificates and high-security documents.
2. Fulfilment Services: Hand assembly, picking and packing, and order fulfilment services. Includes same day pick and pack service. Processing orders from one-off promotional campaigns through long-standing arrangements with automated ordering systems.
3. Vaping Duty Stamps: Production and supply of vaping duty stamps for UK market. Stamps sold in various formats (dry stacks, wet coils) with minimum order quantities. Revenue from stamp sales to HMRC-authorised businesses.
4. Polymer Substrate Sales: Post-Spectra acquisition, revenue includes Fusion polymer banknote substrate sales for central bank specifications.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Cartor Security Printers manufactures security-printed products including conventional and hybrid postage stamps, tax and revenue stamps, security documents, brand protection labels, and vaping duty stamps, combining physical security features (holograms, reactive inks, security threads, microtext, guilloche, rainbow print) with digital track-and-trace capabilities. The company operates from manufacturing facilities in Wolverhampton (UK) and Meaucé (France), serving over 180 postal administrations and government customers globally. Following acquisition by Spectra Systems Corporation, Cartor also produces Fusion polymer banknote substrates for central bank specifications and offers integrated fulfilment services including hand assembly, picking and packing.

Product overview

Cartor Security Printers is a security printing company operating from UK and France manufacturing sites, acquired by Spectra Systems Corporation. The company offers a portfolio of security-printed products including conventional and hybrid postage stamps with encrypted barcodes, tax and revenue stamps with track-and-trace and analytics, and security documents. The Vaping Duty Stamp Programme provides end-to-end UK vaping duty stamp solutions via secure portal and API. Additional offerings include brand protection labels, fulfilment services, and Fusion™ polymer banknote substrates. The portfolio is supported by security certifications (ISO 14298), print capabilities (digital, offset, gravure, silk screen, flexographic), finishing operations (die cutting, holograms, embossing), and hand-assembly services.

Differentiator

Problem solved

Functional benefit

Products and services

• Postage Stamps Security-printed postage stamps with encrypted barcodes enabling electronic cancellation, track and trace capabilities, and revenue protection against counterfeiting and stamp washing for postal administrations and universal postal service providers globally.
• Tax and Revenue Stamps Security stamps for government tax and revenue authorities with authentication, track and trace, numbering, encryption software, mobile authentication solutions, and user-friendly dashboards to combat illicit trade of excisable goods.
• Vaping Duty Stamp Programme Complete UK vaping duty stamp solution delivered in partnership with SICPA, including secure online portal for stamp ordering, inventory management, data capture at point of affixation, aggregation and traceability, and EPCIS 1.2 API integration for HMRC-regulated vaping businesses.
• Security Documents High-security documents including education certificates, government certificates, and examination papers, with over 30 available security features and production at an ISO 14298:2021 certified secure facility.
• Brand Protection and Security Labels Security labels and authentication solutions providing anti-tamper, track and trace, authentication, and unique identification for brand owners in medical, computer, and automotive sectors, produced on film, paper, and polymer substrates.
• Fulfilment Services Hand assembly, picking and packing, and order fulfilment services with over 15 years of experience, same-day pick and pack for orders placed before midday, customs warehouse expertise for UK/EU logistics, and support for volumes from one-off promotional campaigns to automated ordering systems.
• Fusion Polymer Banknote Substrates Polymer banknote substrates meeting industry metrics for physical properties, printability, and hazard resistance, available with or without covert level III security and proprietary security taggant, produced in print-ready sheet form to central bank specifications including print layout and clear window design.

Quantifiable outcome

• Industry leading performance standards in terms of accuracy and timeliness for fulfilment operations
• +2 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered supporting, core and minor.

• A B Graphic International (ABG)supportingTechnology or Integration · 1 October 2022Equipment provider for Cartor's hybrid print and finishing systems. ABG Omega Converter 430 houses the Domino N617i UV inkjet digital print module. Die-cut modules configured for enhanced functionality.
• Domino Printing SciencessupportingTechnology or Integration · 1 October 2022Equipment provider supplying Domino N617i UV inkjet print module for colour printing and K600i printer for monochrome barcode printing in Cartor's hybrid systems.
• Lake Image SystemssupportingTechnology or Integration · 1 October 2022Equipment provider for inspection systems integrated into Cartor's hybrid print lines. Lake Image inspection system detects and diverts defective sheets.
• Spectra Systems Corporation (SPSY.L)coreStrategic or Co-development PartnerSpectra Systems Corporation acquired Cartor, making it an integral division of Spectra Systems. The combination enables rapid penetration into the banknote polymer substrate market and increased product offering in security printing of tax stamps, labels, and ID documents. Spectra's Fusion polymer banknote substrates are now part of Cartor's portfolio. This is a parent company acquisition relationship.
• SICPAcoreStrategic or Co-development PartnerCartor and SICPA partner to deliver secure solutions for governments and regulated industries. SICPA, a Swiss technology company, provides advanced security inks, digital systems and traceability solutions used worldwide to authenticate products and secure supply chains. Together they combine physical security printing expertise with advanced digital and data technologies.
• AardmanminorGTM or Marketing PartnerAnimation studio that created exclusive videos for Royal Mail featuring Shaun the Sheep, connected to barcoded stamp digital twin functionality.

Scale indicators5 records

Recent moves1 record

Expansion highlights6 records

Broad incumbents

• Giesecke+Devrient (G+D): Large German security technology group operating in currency, banknote substrates, identity, and secure printing. Broad incumbent with deep central-bank relationships overlapping Cartor's tax stamp and ID document verticals.
• Veridos: Identity solutions provider (joint venture between G+D and Bundesdruckerei) producing passports, ID cards and security documents for governments. Comparable to Cartor's high-security documents and ID offerings with deeper central-government reach.
• Crane Currency: US-based subsidiary of Crane NXT producing banknote substrates (including polymer), security features, and anti-counterfeiting technologies. Comparable in central bank substrate and security printing capabilities, with broader portfolio scale than Cartor.
• Toppan Security: Security printing division of Toppan, producing banknote substrates, identity documents, and secure printing for governments and central banks. Comparable in security printing breadth and central-bank customer base to Cartor/Spectra's combined offering.

Direct peers

• Oberthur Fiduciaire (part of IDEMIA): European security printer producing banknotes, identity documents, and secure printing solutions for governments and central banks. Direct competitor in postage stamp, tax stamp, and identity document categories where Cartor operates.
• SICPA: Swiss technology company providing security inks, digital traceability systems, and authentication solutions used by governments and regulated industries worldwide. Direct peer in tax/revenue stamps and track-and-trace; also a current Cartor partner in the UK Vaping Duty Stamp programme.
• De La Rue: Global security printer and manufacturer of banknote substrates, postage stamps, tax stamps, and identity documents. Directly comparable to Cartor's core markets of postal security printing, tax stamps, and secure government documents, with overlapping customer base of central banks and postal administrations.
• CCL Secure: Manufacturer of polymer banknote substrates (Guardian™) supplying central banks globally. Direct competitor to Spectra/Cartor's Fusion polymer substrate offering in the banknote substrate market that Cartor is positioning to enter.

Emerging players

• Royal Joh. Enschedé: Dutch specialist security printer with deep heritage in postage stamps, banknotes, and secure documents. Comparable in niche security printing craft and postal-stamp expertise, though smaller and more regionally focused than Cartor.
• Halo (brand protection): Provider of authentication and brand protection labels with track-and-trace capabilities for regulated products. Comparable in brand protection/security labels and trace-and-trace technology, though more focused on consumer goods versus Cartor's government/postal orientation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/CartorPrinters
• LinkedInlinkedin.com/company/cartor-security-printers

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cartor Security Printers