The executives are buying BC Partners' majority stake in the security company and will hold roughly 70 per cent of the equity
GardaWorld Security Corp.‘s founder and chief executive is taking control of the Canadian security company from U.K. private equity firm BC Partners in a deal valued at $13.5-billion.
Stephan Crétier and a senior GardaWorld management group are buying BC Partners' majority stake in the company and will hold roughly 70 per cent of the equity, while a group of minority investors led by New York-based HPS Investment Partners takes the remaining interest, the companies said in a Monday news release.
BC Partners will stay invested with a small position. No other financial information was disclosed about the deal, which those involved are calling the largest private buyout in Canadian history. “In an increasingly complex world, I have discovered that prominent organizations aspire to partner with a vetted entrepreneurial success story,” Mr. Crétier said in a statement.
“GardaWorld is more than one entrepreneur. It is a group of truly aligned like-minded leaders committed to doing what is best for clients, employees and stakeholders ... We have come a long way since our modest beginnings.”
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