GardaWorld founder to take control of firm in deal for BC Partners' majority stake
The founder of GardaWorld Security Corp. has signed a deal to take control of the company in a deal to acquire BC Partners' majority stake in the global security firm. GardaWorld company headquarters is seen Wednesday, December 18, 2013 in Montreal. THE CANADIAN PRESS/Ryan Remiorz
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 Cretier, investment firm HPS Investment Partners, Oak Hill Advisors, One Investment Management and others have signed an agreement that values GardaWorld at $13.5 billion.
Cretier is GardaWorld's founder, chairman, president and chief executive.
Following the close of the deal, Cretier, 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.
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