Apax to sell GardaWorld interest to Rhône Capital, Stephan Cretier
U.S. private equity firm Rhône Capital has partnered with Stephan Crétier, chairman and CEO of Garda World Security Corp, to acquire the interest held in the company by Apax Partners. No financial terms were disclosed for the deal, which is expected to close in July. GardaWorld, a Montréal-based security services provider, was taken private by Apax, a U.K. private equity firm, in 2012 for $1.1 billion. The company said it has since doubled in size in terms of revenue. Rhône, which acquired a minority stake in GardaWorld last year, will increase its holding to 61 percent with the deal. Crétier and other senior managers will increase their holdings to about 39 percent.
24 March 2017•3 mins read
