Press Release

Founder Stephan Cretier and Rhone Complete Acquisition of Apax Ownership in GardaWorld

GardaWorld completes a C$2.2 billion refinancing of its long term credit facilities and senior notes


MONTREAL, QUEBEC--(Marketwired - May 29, 2017) - Garda World Security Corporation ("GardaWorld"), one of the world's largest privately owned security and cash services providers, announced today that Stephan Crétier, members of the management team and an entity held by investment funds affiliated with Rhône Capital ("Rhône"), a leading global alternative investment management firm, have completed the purchase of all of Apax's remaining participation in GardaWorld.

Stephan Crétier commented: "Rhône has been an extremely supportive partner since first becoming involved with GardaWorld, and I am delighted it has increased its shareholding. Rhône is an ideal, like-minded partner, and we are excited to work with it to build a true global Canadian champion in security.

"The Board of Directors wishes to thank the Apax team for its contribution. Since November 2012, the company underwent exceptional growth, almost doubling in size in terms of its revenues and employees. GardaWorld now operates in 33 countries worldwide."

As a result of this transaction, Stephan Crétier, Founder, Chairman and Chief Executive Officer of GardaWorld, now holds, along with certain management stockholders, approximately 39% (fully diluted) of the shares in GardaWorld's parent company, and Rhône increased its holding to 61% (fully diluted).

Along with this transaction, GardaWorld also announced the completion of a C$2.2 billion refinancing of its credit facilities and senior notes. This refinancing ensures the company's long term future and positions it for its next wave of growth. The new facilities include US$500 million senior notes due 2025, US$174 million senior notes due 2021, US$862 million term loan due in 2024, C$100 million term loan due in 2024 as well as a US$232.5 million revolving facility due in 2022.

With these new facilities and the support of Rhône, GardaWorld is set to realize its long term objectives with stability in its financial structure and additional availability of capital to fund future expansion plans.

About GardaWorld

GardaWorld is one of the world's largest privately owned security services providers, offering a range of highly focused business solutions including cash services, protective services and aviation services. GardaWorld's more than 62,000 highly trained, dedicated professionals serve clients throughout North America, the Middle East, Africa and Europe. GardaWorld works across a broad range of sectors, including financial services, infrastructure, natural resources and retail, and services Fortune 500 companies, governments and humanitarian relief organizations. For more information, visit

About Rhône Capital

With over 20 years of investing experience, Rhône is a global alternative investment management firm with a focus on investments in market leading businesses with a pan- European or transatlantic presence. Rhône, which is currently investing capital from its fifth private equity fund, has prior experience with service companies, as well as in the chemical, consumer product, food, packaging, specialty material and transportation sectors.

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


GardaWorld Contact
GardaWorld Media Relations, [email protected]