Wendel traces its roots back to 1704 and is an active investor in European and North American-based companies across a range of industries. Goldman Sachs Merchant Banking acquired USSA in July 2011 from Wind Point Partners. USSA provides unarmed and armed uniformed security services, consulting and investigative services. In October 2018, Allied Universal acquired Roswell, GA-based US Security Associates (USSA), a portfolio company of Goldman Sachs Merchant Banking, for approximately $1 billion. In August 2016, AlliedBarton merged with Universal Services of America, owned by Warburg Pincus, to create Allied Universal. Wendel acquired Allied Universal (then AlliedBarton Security Services) in December 2015 for $1.7 billion. We think CDPQ’s long-term approach is well-suited to our strategy for continued growth in manned guarding and technology services and look forward to working with them as partners.” “Wendel and Warburg are terrific partners who have supported our rapid growth over the past several years and we look forward to adding CDPQ to our shareholder base. As of June 30, 2018, it held C$308 billion in net assets ( “CDPQ’s agreement to acquire a significant ownership stake and invest in Allied Universal is a strong endorsement of the company’s strategy and vision for the future and, most importantly, the incredible work of our entire team,” said Steve Jones, president and CEO of Allied Universal. “We look forward to supporting Allied Universal’s talented management team as they continue to grow this world-class business and build on its track record of providing its clients a customized mix of manned guarding and security technology solutions.”Ĭaisse de dépôt et placement du Québec is an institutional investor that manages funds primarily for public and para-public pension and insurance plans. “This investment, which represents one of the largest private transactions in business services, enables us to invest in a national leader in facility and security services, a sector that will continue to experience sustained organic growth and industry consolidation,” said Stephane Etroy, executive vice president and head of private equity at CDPQ. The company has annual revenues of $7 billion and over 200,000 security professionals located at over 38,000 client sites.Īllied Universal has two headquarters facilities, one in Santa Ana, CA and the other near Philadelphia in Conshohocken, PA ( In addition to the equity purchase transaction, Allied Universal has entered into an agreement with CDPQ for it to provide up to an additional $400 million of capital to support the company’s growth strategy and acquisition plans. Other equity owners of Allied Universal include Warburg Pincus and members of the company’s senior management team.Īllied Universal provides a mix of services including traditional manned guards, fire and life safety emergency preparation services, systems integration and remote monitoring, and janitorial services. This transaction places an enterprise value of $7 billion on Allied Universal.įollowing the transaction, Wendel will retain an 18% ownership stake in the company and CDPQ will become the largest shareholder of Allied Universal.
Paris-based private equity firm Wendel has agreed to sell approximately 40% of its equity stake, along with other existing shareholders, in Allied Universal, one of the largest providers of security services in North America, to Caisse de dépôt et placement du Québec (CDPQ).
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