logo
Banknote maker De La Rue sold to US buyout firm for £263m

Banknote maker De La Rue sold to US buyout firm for £263m

Independent15-04-2025

UK banknote printer De La Rue has agreed to be bought by a US buyout firm in a deal worth £263 million.
The more than 200-year-old company, which is based in Basingstoke, Hampshire, will be taken off the London Stock Exchange and acquired by Atlas.
Connecticut-based Atlas specialises in buying and investing in struggling companies across industrial sectors such as construction, paper and printing, car components, and food production.
It currently has controlling stakes in a group of 27 firms which employ more than 57,000 people combined.
De La Rue launched a formal process earlier this year to put itself up for sale.
In January, it was approached over a possible takeover deal worth £245 million by British financier Edi Truell.
It later agreed to sell its authentication arm – which provides software for governments and businesses – to US-listed group Crane NXT for £300 million.
De La Rue has been struggling with a downturn in demand for cash since the pandemic, and in July last year it cautioned over risks to its ability to keep operating because of the payment of a loan due in July 2025.
Hiving off its authentication arm meant it could repay the loan in full.
Clive Vacher, De La Rue's chief executive, said the company had 'undergone a fundamental transformation since 2020', including enhancing profitability in its currency business.
'Atlas is the right partner to take De La Rue into its next phase of growth,' he said.
'Most importantly, under Atlas's ownership we can ensure long-term stability for our customers and our people, and best position the business for its next chapter.'
Perer Bacon, a partner at Atlas, said: 'In De La Rue, we see a company that is an industry leader, but one which has faced multiple challenges in recent years.'
Atlas said it believes bringing the company under private ownership will put it in a better position to secure further investment.
Shares in De La Rue soared more than 15% on Tuesday morning.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Airlines reduce baggage loss by using new tech, report shows
Airlines reduce baggage loss by using new tech, report shows

South Wales Argus

timean hour ago

  • South Wales Argus

Airlines reduce baggage loss by using new tech, report shows

Aviation technology company Sita said 33.4 million bags were mishandled in 2024, compared with 33.8 million during the previous year. Given the 8.2% increase in passenger numbers, the rate of bags lost fell to 6.3 per 1,000 passengers, down from 6.9 in 2023. This is a 67% drop since 2007. Sita said airports and airlines are handling baggage with 'more precision' by using real-time tracking, AI-powered analytics and self-service systems. The report stated that these advancements are 'no longer experimental, they are becoming standard and they are clearly having an effect'. Sita chief executive David Lavorel said: 'We've seen a radical shift with automation and the widespread use of real-time tracking. 'Passengers now expect their baggage experience to be as easy and transparent as using a rideshare or delivery app. 'It's no longer just about moving bags, it's about delivering a smooth, connected journey. 'Airlines are ready to tap into technology that improves the passenger experience while keeping costs down and being simple to roll out. 'Together with our partners, we're reimagining baggage handling to give passengers full visibility and control from departure to arrival, giving them peace of mind and making travel simpler and better.' Despite the improvement, lost bags cost the aviation industry an estimated five billion US dollars (£4.2 billion) last year from courier returns, customer service, claims handling and lost productivity. Delays remained the most common baggage issue last year, accounting for 74% of mishandling incidents. Of the 33.4 million mishandled bags, some 66% were 'resolved' within 48 hours, the report added.

Airlines reduce baggage loss by using new tech, report shows
Airlines reduce baggage loss by using new tech, report shows

South Wales Guardian

timean hour ago

  • South Wales Guardian

Airlines reduce baggage loss by using new tech, report shows

Aviation technology company Sita said 33.4 million bags were mishandled in 2024, compared with 33.8 million during the previous year. Given the 8.2% increase in passenger numbers, the rate of bags lost fell to 6.3 per 1,000 passengers, down from 6.9 in 2023. This is a 67% drop since 2007. Sita said airports and airlines are handling baggage with 'more precision' by using real-time tracking, AI-powered analytics and self-service systems. The report stated that these advancements are 'no longer experimental, they are becoming standard and they are clearly having an effect'. Sita chief executive David Lavorel said: 'We've seen a radical shift with automation and the widespread use of real-time tracking. 'Passengers now expect their baggage experience to be as easy and transparent as using a rideshare or delivery app. 'It's no longer just about moving bags, it's about delivering a smooth, connected journey. 'Airlines are ready to tap into technology that improves the passenger experience while keeping costs down and being simple to roll out. 'Together with our partners, we're reimagining baggage handling to give passengers full visibility and control from departure to arrival, giving them peace of mind and making travel simpler and better.' Despite the improvement, lost bags cost the aviation industry an estimated five billion US dollars (£4.2 billion) last year from courier returns, customer service, claims handling and lost productivity. Delays remained the most common baggage issue last year, accounting for 74% of mishandling incidents. Of the 33.4 million mishandled bags, some 66% were 'resolved' within 48 hours, the report added.

Airlines reduce baggage loss by using new tech, report shows
Airlines reduce baggage loss by using new tech, report shows

North Wales Chronicle

timean hour ago

  • North Wales Chronicle

Airlines reduce baggage loss by using new tech, report shows

Aviation technology company Sita said 33.4 million bags were mishandled in 2024, compared with 33.8 million during the previous year. Given the 8.2% increase in passenger numbers, the rate of bags lost fell to 6.3 per 1,000 passengers, down from 6.9 in 2023. This is a 67% drop since 2007. Sita said airports and airlines are handling baggage with 'more precision' by using real-time tracking, AI-powered analytics and self-service systems. The report stated that these advancements are 'no longer experimental, they are becoming standard and they are clearly having an effect'. Sita chief executive David Lavorel said: 'We've seen a radical shift with automation and the widespread use of real-time tracking. 'Passengers now expect their baggage experience to be as easy and transparent as using a rideshare or delivery app. 'It's no longer just about moving bags, it's about delivering a smooth, connected journey. 'Airlines are ready to tap into technology that improves the passenger experience while keeping costs down and being simple to roll out. 'Together with our partners, we're reimagining baggage handling to give passengers full visibility and control from departure to arrival, giving them peace of mind and making travel simpler and better.' Despite the improvement, lost bags cost the aviation industry an estimated five billion US dollars (£4.2 billion) last year from courier returns, customer service, claims handling and lost productivity. Delays remained the most common baggage issue last year, accounting for 74% of mishandling incidents. Of the 33.4 million mishandled bags, some 66% were 'resolved' within 48 hours, the report added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store