Waterlow and Sons Limited was a major worldwide engraver of currency, postage stamps, stocks and bond certificates based in London, Watford and Dunstable in England.
The company gradually grew; it began printing stamps in 1852, and Waterlow's sons Alfred, Walter, Sydney and Albert joined the business.
[1][2] In 1924, the Imperial Bank of Persia commissioned the company to print 1, 5 and 10 toman banknotes that bore the watermark of Lion and Sun for the first time.
The Banco de Portugal sued Waterlow & Sons in the High Court in London because of counterfeiting.
[8] In 2003 De La Rue acquired the banknote printing operations of the Bank of England,[9] 75 years after Waterlow's had lost the business.