De La Rue sells banknote paper business
Global security and anti-counterfeiting specialist De La Rue has established a strategic partnership with Epiris Fund II to create Portals De La Rue, a new company comprising the group’s paper business. The £61m deal gives Epiris a 90% shareholding in Portals De La Rue, which includes the Overton and Bathford paper mills. The venture secures a long term paper supply for De La Rue’s print requirements with a ten year contract while limiting the company’s exposure to the external paper market and strengthening its balance sheet. This realignment will allow De La Rue to become a less capital intensive company and focus on its core business of providing innovative technology solutions for the currency, identity and brand protection markets.