Private equity house Carlyle Group stands to make an 81pc return on its investment in UK cash management company Talaris, after revealing on Tuesday it had agreed a sale to Japanese business Glory.
Glory, which also makes money-handling machines, has made a £650m offer for Basingstoke-based Talaris.
Carlyle Europe Partners bought the British company, which was previously called De La Rue Cash Systems, in 2008 for £360m from the De La Rue (LSE: DLAR.L - news) group.
The investment was viewed as fairly risky at the time as Talaris counted banks among its chief customers.
Since 2008, the company has expanded into new markets, in particular Brazil, pushing profits up 40pc under Carlyle's ownership. It has also diversified its customer base, targeting more casinos and retailers after investing heavily in research and development.
The deal will give Asia-focused Glory access to a number of new markets.
Talaris employs 1,900 worldwide and has particular strengths in the UK, US, Europe (Chicago Options: ^REURUSD - news) , Latin America and Africa.
Andrew Burgess, managing director at Carlyle, said Talaris was an "outstanding example of a company that delivers strong growth through innovation".
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