Apax closes sale of GardaWorld stake to Rhône Capital, founder

U.K. private equity firm Apax Partners has closed its sale of interest held in Garda World Security Corp, a Montréal-based security services provider. No financial terms were disclosed for the deal, which was announced in March. The buyers were U.S. private equity firm Rhône Capital, which now holds a 61 percent stake, and GardaWorld's founder, Chairman and CEO Stephan Crétier. Apax led a consortium that paid $1.1 billion to acquire GardaWorld in November 2012. Crétier said the business doubled in size in terms of revenue and employees during Apax's period of ownership.

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