MONTREAL, QUEBEC--(Marketwired - Feb. 24, 2016) - Garda World Security Corporation ("GardaWorld"), the world's largest privately owned security and cash services provider, announced today that investment funds affiliated with Rhône Capital (together with its affiliates, "Rhône"), a global private equity firm, have entered into an agreement to acquire forty-five percent (45%) of the outstanding shares of a parent company of GardaWorld from a subsidiary of funds advised by Apax Partners ("Apax") and certain management stockholders of GardaWorld. Closing of the transaction is subject to regulatory approvals and other customary conditions and is expected to occur in the quarter ending July 31, 2016.
Immediately following closing of the transaction, Apax and Stephan Crétier, Founder, Chairman and Chief Executive Officer of GardaWorld, will continue to hold a majority of the shares of GardaWorld's parent company and appoint sixty percent (60%) of the Board of Directors. GardaWorld's Board of Directors following the closing will remain unchanged. Each party will be subject to customary shareholder provisions for an investment of this type.
GardaWorld is the world's largest privately owned security and cash services provider. Our 48,000 highly trained, dedicated professionals serve clients throughout North America, Europe, Africa, Asia and the Middle East. GardaWorld works across a broad range of sectors, including natural resources and critical infrastructures, retail, construction, telecommunications and manufacturing, and on behalf of Fortune 500 companies, governments, NGOs and humanitarian relief organizations. For more information, visit www.garda.com
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Apax Partners has advised funds that total over $40 billion around the world in aggregate. Funds advised by Apax invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.
About Rhône Capital
With 20 years of investing experience, Rhône is a global private equity firm with a focus on investments in market leading businesses with a pan-European or transatlantic presence and expansion prospects. Rhône, currently investing capital from its fifth private equity fund, has prior experience in the business services, chemicals, consumer products, food, packaging, specialty materials and transportation sectors, with a record of adding value in companies as a minority investor.