Carlyle cashes in with ATMs sale to Japanese rival

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The Independent Online

The US private-equity firm Carlyle is set to almost double its money by selling UK cash systems and automatic teller machines business Talaris to a Japanese rival in a deal worth £650m.

Carlyle said yesterday it had received a binding offer for Basingstoke-based Talaris from Glory, which is Japan's largest manufacturer of money-handling machines.

The deal is something of a coup for the US buyout firm, which bought Talaris for £360m from the banknotes printing group De La Rue at the height of the financial crisis in September 2008, when Lehman Brothers collapsed.

Previously called De La Rue Cash Systems, Carlyle rebranded the company Talaris.

Talaris employs 1,900 staff and distributes its ATMs in more than 100 countries.

Andrew Burgess, a managing director of Washington-based Carlyle, said: "The proposed transaction is an exciting opportunity to ensure the business continues to maximise its full global potential."