GardaWorld founder to take control of firm in deal for BC Partners’ majority stake
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Hey there, time traveller!
This article was published 28/10/2024 (716 days ago), so information in it may no longer be current.
MONTREAL – The founder of Garda World Security Corp. has signed a deal to take control of the company by acquiring BC Partners’ majority stake in the global security firm.
Stephan Crétier, investment firm HPS Investment Partners, Oak Hill Advisors, One Investment Management and others have signed an agreement that values GardaWorld at $13.5 billion.
Crétier is GardaWorld’s founder, chairman, president and chief executive.
Following the close of the deal, Crétier, together with select members of management, will hold about a 70 per cent stake in the company.
HPS, which is leading the group of minority investors, will hold the remaining equity interest, while BC Partners will also continue to hold a minority stake.
The transaction, which is subject to customary closing conditions, is expected to close by Feb. 28, 2025.
This report by The Canadian Press was first published Oct. 28, 2024.