BC Partners Said Near Deal to Exit Stake in Canada’s GardaWorld
- Deal to value the security services firm at nearly $10 billion
- Management is taking back control via a deal backed by HPS
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BC Partners is close to selling a large portion of its controlling stake in GardaWorld back to its management team, in a transaction that values the Canadian security services firm at about C$13.5 billion ($9.8 billion), according to people familiar with the matter.
The London-based private equity firm is divesting a majority of its 51% stake to GardaWorld’s founder and chairman, Stephan Cretier, and some other members of the management team, the people said, asking not to be identified as the matter is private. The deal is backed by a group of private credit firms, led by HPS Investment Partners, who are committing several billions of dollars to the management of GardaWorld to support the buyout, the people said.