The story
Waterlow and Sons originated from the business of James Waterlow, who began producing lithographic copies of legal documents at Birchin Lane in London in 1810. The company gradually grew; it began printing stamps in 1852, and Waterlow's sons Alfred, Walter, Sydney and Albert joined the business. James Waterlow died in 1876, and the company became a limited-liability company. In 1877, due to a family dispute, the company split, and Alfred and his sons formed Waterlow Bros. & Layton. The two companies later reunited in 1920.
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.
From Wikipedia’s article on Waterlow and Sons, shared under CC BY-SA 4.0.3
