Carlyle’s €5.3bn 2007 vintage Europe Partners III fund bought De La Rue Cash Systems from De La Rue in September 2008 for £360m, rebranding the company Talaris.
The firm helped build the business through investment in new technology and expansion into new markets such as Brazil, where Banco do Brasil is one of Talaris’ newest clients.
Earnings increased by more than 40 per cent under Carlyle’s ownership.
Headquartered in Basingstoke, England, Talaris makes cash handling equipment for customers across the banking, retail and gaming sectors.
The company employs around 1,900 staff and has offices in over 20 countries as well as a network of business partners, increasing coverage to more than 100 countries.
“In 2008, we were confident in the continued popular use of cash and subsequent increased global demand for efficient cash handling solutions by financial institutions, and are delighted to have delivered our value creation strategy for the company,” said Carlyle managing director Andrew Burgess.
Carlyle was advised by Bank of America Merrill Lynch and Clifford Chance. Glory was advised by KPMG and Slaughter & May.
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