Canada’s ‘largest private buyout’ sees BC Partners buy $5.2B stake in GardaWorld

Canada’s ‘largest private buyout’ sees BC Partners buy $5.2B stake in GardaWorld

MONTREAL — Private equity firm BC Partners touted on Tuesday its $5.2-billion deal to buy a majority stake in Montreal-based GardaWorld as the largest private buyout in Canadian history.

The transaction will see the London-based firm take on a 51 per cent interest in GardaWorld, whose chief executive Stephan Cretier and other management team members will own the rest.

Cretier’s high minority stake marks a shift from recent years. The founder’s share of the multinational global security company was about 26 per cent in 2012, when GardaWorld went private, and climbed to about 39 per cent in 2017.

In a phone interview from Dubai, Cretier told The Canadian Press that becoming a majority shareholder would be his ”next step” in the coming years.

“We want to be the owners. That’s what makes a difference when we sit down with customers and employees. We act as owners. That’s a lot of value, I think,” he said, though a majority of the company remains in foreign hands.

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

Founded 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 has 92,000 employees across 46 countries.

Paolo Notarnicola, a senior partner at BC Partners, said GardaWorld “offers significant opportunities for consolidation.”

The deal is expected to close in late 2019.

GardaWorld made headlines in April after its Belgium office was raided in connection with an investigation by France’s national financial crimes unit, but maintained it was not the target of the probe, noting it had not been criminally charged.

Last February, GardaWorld touted the “strongest fourth quarter in its history” with revenues of about $800 million and an adjusted operating income of about $100 million.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A statement from Education Minister Adriana Lagrange’s office said the government approved the requests for the shutdowns out of an abundance of caution. (Advocate file photo).
Alberta Federation of Labour calls school outbreaks very alarming

‘This virus can spiral out of control very quickly’

Alert logo
Red Deer man arrested for child luring

A Red Deer man was arrested on Jan. 21 for an alleged… Continue reading

Mark Jones, Child Advocacy Centre CEO, takes a call. The centre has surpassed its latest fundraising goal. (Black Press file photo).
Central Alberta Child Advocacy Centre surpasses latest fundraising goal

One-Day Challenge sold $65,000 in 50-50 tickets

Prime Minister Justin Trudeau speaks during a news conference on the COVID-19 pandemic outside his residence at Rideau Cottage in Ottawa, on Tuesday, Jan. 26, 2021. THE CANADIAN PRESS/Justin Tang
Cancel travel plans, Prime Minister Justin Trudeau urges Canadians

OTTAWA — Canadians should cancel any non-essential travel plans they might have,… Continue reading

Jessica Swainson of Red Deer is of three local filmmakers who benefited from $20,000 of project funding from TELUS Storyhive. (Screenshot by Advocate staff).
Three Red Deer filmmakers each receive $20,000 to spotlight local heroes

Adam Jasper, Linda Pidhirney and Jessica Swainson received funding

Terrance Josephson of the Princeton Posse, at left, and Tyson Conroy of the Summerland Steam clash during a Junior B hockey game at the Summerland Arena in the early spring of 2020. (John Arendt - Summerland Review)
QUIZ: How much do you know about hockey?

Test your knowledge of Canada’s national winter sport

(Photo submitted)
Central Alberta researchers recognized for studies in agricultural sciences

Jessica Sperber of Ponoka and David MacTaggart of Lacombe awarded prestigious scholarship

(Photo submitted)
Ponoka RCMP receives new police puppy trainee

Detachment says goodbye to ‘Maja’ and welcomes ‘Neutron’

Conservative MP Tracy Gray rises during question period in the House of Commons on Parliament Hill in Ottawa on Friday, Jan. 31, 2020. The Opposition Conservatives are urging the federal government to push back on President Joe Biden’s protectionist Buy American plan.THE CANADIAN PRESS/Justin Tang
Opposition urges Liberal government to push back against Biden’s Buy American plan

DISTRICT OF COLUMBIA — The Opposition Conservatives are urging the federal government… Continue reading

Quebec Crown prosecutor Francois Godin speaks to reporters outside a courtroom, Thursday, Nov. 5, 2020 in Quebec City. THE CANADIAN PRESS/Jacques Boissinot
Quebec City Halloween night stabbing suspect returns to court for brief hearing

QUEBEC — The 24-year-old man accused in the Quebec City Halloween night… Continue reading

European Commission President Ursula Von Der Leyen addresses European lawmakers during the presentation of the program of activities of the Portuguese Presidency on a plenary session at the European Parliament in Brussels, Wednesday, Jan. 20, 2021. THE CANADIAN PRESS/AP/Francisco Seco, Pool
Canada’s vaccine deliveries further threatened as Europe mulls export controls

OTTAWA — Prime Minister Justin Trudeau says he remains confident in Canada’s… Continue reading

Conservative MP Tracy Gray rises during question period in the House of Commons on Parliament Hill in Ottawa on Friday, Jan. 31, 2020. The Opposition Conservatives are urging the federal government to push back on President Joe Biden’s protectionist Buy American plan.THE CANADIAN PRESS/Justin Tang
If Canada can survive four years of Trump, it can navigate the new Buy American: PM

DISTRICT OF COLUMBIA — Prime Minister Justin Trudeau says after the last… Continue reading

Nova Scotia’s provincial flag flies in Ottawa, Friday July 3, 2020. THE CANADIAN PRESS/Adrian Wyld
Mistaken identity: Porn allegation dropped against Nova Scotia doctor after mix-up

HALIFAX — In a bizarre case of mistaken identity, Halifax police blamed… Continue reading

Art Kempf, originally from the Stettler area but now living in Lacombe, is pictured here with his late wife Lillian. Art’s 100th birthday is coming up on Feb. 22nd.
photo submitted
Former Stettler area resident Art Kempf will be celebrating a very special day next month

Kempf, now a Lacombe resident, marks his 100th birthday on Feb. 22nd

Most Read