Deals
BC Partners Agrees to Sell Majority Stake in Canada’s GardaWorld
- Deal values the security services firm at nearly $10 billion
- Management is taking back control via a deal backed by HPS
GardaWorld’s operating profit has more than doubled in the past five years.
Photographer: Richard Vogel/AP PhotosThis article is for subscribers only.
BC Partners has agreed to sell 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 ($9.7 billion).
The London-based private equity firm is divesting most of its stake to GardaWorld’s founder and chairman, Stephan Cretier, and some of the firm’s top executives, who will together hold about 70% of the business, according to a statement that confirmed an earlier Bloomberg News report.