Global law firm Ashurst is advising Lazard on the recommended cash acquisition of De La Rue plc (De La Rue) announced today. The acquisition will be made by ACR Bidco Limited (Bidco), a company indirectly wholly-owned by funds managed and advised by Atlas FRM LLC (d/b/a Atlas Holdings LLC) (Atlas).
The acquisition values the entire issued and to be issued share capital of De La Rue at approximately £263 million. Lazard is acting as financial adviser to Atlas and Bidco.
Founded in 2002 and based in Greenwich, Connecticut, USA, Atlas and its affiliates focus on long-term control investments in companies operating across industrial sectors where it has domain expertise, including printing, pulp and paper, automative components, food production, power generation and construction.
Established 211 years ago, De La Rue is trusted by governments and central banks, providing solutions that protect their supply chains and cash cycles from counterfeiting and illicit trade. De La Rue's business is currently made up of two reportable divisions: Currency and Authentication. The Currency Division designs and manufactures highly secure banknotes and banknote components that are optimised for security, manufacturability, cash cycle efficacy and public engagement.
The Ashurst team was led by global chair Karen Davies, supported by senior associate Colin Bugler and associates Gareth Mair and Emilia Howard.
