WASHINGTON – Private equity giant the Carlyle Group yesterday said it has agreed to acquire De La Rue’s Cash Systems business, the manufacturer of the ubiquitous cash handling technology, for $701 million.
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The sale will allow De La Rue to focus on its security paper and printing arm, which produces more than 150 national currencies, and a wide range of security documents such as passports and travelers checks.
De La Rue’s Cash Systems machines, which are manufactured at 14 sites around the globe, including Lisle, Ill., and Irvine, Calif., are used by thousands of credit unions.
Carlyle has made deep inroads in the credit union market with its acquisition last year of Open Solutions Inc., the maker of data processing systems.
