GardaWorld Founder and HPS Investment Partners Recapitalize Company in $9.7B Deal
Following the close of the transaction, Crétier and “select members of management” will hold approximately 70% of GardaWorld.
MONTREAL and NEW YORK — GardaWorld founder, chairman, president and CEO Stephan Crétier has teamed with global investment firm HPS Investment Partners, Oak Hill Advisors, One Investment Management and others, reaching a definitive agreement to acquire BC Partners’ majority equity interest in Garda World Security Corporation for $9.72 billion. This is according to a company announcement.
GardaWorld “builds global champions in security services, artificial intelligence-enabled security technologies, integrated risk management and cash automation solutions,” the announcement says.
Following the close of the transaction, Crétier and “select members of management” will hold approximately 70% of GardaWorld. HPS, which is leading a group of “sophisticated minority investors,” will hold the remaining equity interest. BC Partners will also continue to hold a minority stake, according to the announcement.
Why Crétier Acquired GardaWorld Majority Stake
Founded in 1995, GardaWorld established itself as a global leader in the security industry by building independent, robust operating businesses, including GardaWorld Security, Crisis24, ECAMSECURE and Sesami.
“In an increasingly complex world, I have discovered that prominent organizations aspire to partner with a vetted entrepreneurial success story,” says Crétier. “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.
“I am humbled by the professionalism and dedication of my international group of colleagues and the unique DNA we have developed. This is what I call a winning team. We have come a long way since our modest beginnings when I started this company with a $25,000-second mortgage on my home almost 30 years ago,” he says.
The transaction, which is subject to customary closing conditions, is expected to close by Feb. 28, 2025. The transaction will be leverage neutral with respect to GardaWorld and will not involve any financing at the level of GardaWorld or its subsidiaries. Further financial terms of the transaction were not disclosed.
“GardaWorld has consistently generated compelling results as it executes on its commitment to delivering trusted and innovative security solutions, and we believe that its ability to evolve with the rapidly changing security needs of the world’s leading companies positions it well for continued success,” says Scot French, governing partner at HPS.
“We are excited to expand our longstanding partnership with the team as they continue to build on GardaWorld’s strong momentum and further accelerate its growth trajectory,” he says.
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