De La Rue Holdings plc

Trefethen Advisors' broad-based financial and strategic advisory experience extends across a range of situations, industries and transaction sizes. The firm's professionals have executed the following selected transactions, among others:

Client & Engagement Overview

  • Client’s parent De La Rue is the world's largest commercial security printer and papermaker, involved in the production of over 150 national currencies and a wide range of security documents such as travelers cheques and vouchers.
  • Trefethen professionals were engaged to advise on the sale of Sequoia Voting Systems, a leading provider of voting equipment systems, election print materials, software and election services in the U.S.


  • On December 2, De La Rue announced its intention to sell Sequoia by the following March, providing less than four months to identify and contact buyers, structure a transaction, complete due diligence and close the sale transaction.
  • For the first six months of the fiscal year, client generated $15.3M in revenue and ($4.9M) of losses.


  • Smartmatic, a network device company with election systems products sold outside of the U.S., was looking build a presence in the U.S.
  • The transaction brought together two leading suppliers in the global voting systems market.
  • Trefethen professionals completed the sale in slightly over three months, nearly three weeks ahead of the time frame publicly set forth by De La Rue