IN Groupe Acquires Portals’ Italian Security Business

IN Groupe, global specialist in identities and digital services and owner of the OVD developer SURYS, has announced that it has signed an agreement with Portals, the UK supplier of security features and, until recently, banknote paper, for the sale of its security components business. Based in Bollate in Italy, the business was acquired by Portals from Fedrigoni in 2021.

The sale of the Italian part of the business is the latest chapter in Portals’ story. Having taken the business out from parent De La Rue in 2018, it experienced strong head winds and saw a significant adverse impact on its banknote paper business. It became clear that the change in the fortunes and priorities of De La Rue, still its largest customer, and the rising input costs, specifically of energy, set against the increasingly price competitive banknote paper marketplace, meant that its banknote paper business at Overton was no longer viable.