$5.2B stake in GardaWorld

Private equity firm BC Partners is announcing a $5.2-billion deal to buy a majority stake in Montreal-based global security company GardaWorld.

The transaction will see the London-based BC Partners take on a 51 per cent interest in the company, with GardaWorld chief executive Stephan Cretier and other management team members owning the rest.

BC Partners is buying its stake from Rhone Capital, which in turn bought its interest from Apax Partners LLP in 2017.

Founded by Cretier in 1995, GardaWorld deploys armoured trucks and security personnel to protect clients that range from New York financial institutions to African embassies and Canadian airports.

Self-described as the largest privately owned security firm in the world, it staffs 92,000 employees across 46 countries.

The deal is expected to close in late 2019.

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