Fedrigoni completes security business sale to Portals

UK banknote and security paper supplier Portals International has completed the acquisition of the Fedrigoni group's security business, extending its technology base.

The handover of the business gives Portals a portfolio of security features such as security threads and foils for banknote applications and other security documents, as well as a manufacturing facility  plant based in Bollate, Italy.

Portals is also buying certain banknote paper and passport paper assets including production machinery from the Fabriano (Italy) security division of Fedrigoni in a separate transaction. Portals has said it intends to continue security thread and foil production in Bollate and invest in innovation capacity across its facilities.

Commenting on the deal, Portals chief executive Dr Ross Holliday said: "We're very pleased to welcome Fedrigoni's security business customers, partners and employees into the Portals family and assure them we’ll continue to market, develop, support and increase investments in the business."

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He went on: "This acquisition allows Portals to continue enhancing our banknote and security papers, increasing our global reach whilst accelerating our ability to produce the leading security products our customers require."

Around 100 employees from the group, including the commercial team and support staff connected to the security business, will join Portals as a result of the transaction.

Portals has been investing heavily in its banknote and security paper business since being acquired by private equity group Epiris in 2018.