Caisse de dépôt et placement du Québec (“CDPQ”) announced today a major investment in Conshohocken-based Allied Universal, the leading security services provider in North America, alongside company management and Warburg Pincus and Wendel, its current financial partners. The transaction values Allied Universal at more than $7 billion.
According to a press release, the investment from CDPQ will support the long-term growth and strategy of the company. Part of CDPQ’s investment also consists of up to approximately $400 million of primary capital which will be used by the Allied Universal to pursue its growth strategy and execute on its pipeline of attractive mergers and acquisitions.
“I am very proud to have one of the world’s leading institutional investors commit to Allied Universal and back our vision for success,” said Steve Jones, Chief Executive Officer of Allied Universal. “Our team has worked hard to build the best security company in the world. We are all excited about the future of Allied Universal as well as our plans for continuing to grow both organically and through strategic acquisitions in both the manned guarding and technology sectors. We look forward to accomplishing great things with CDPQ as our long-term partner.”
“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,” commented Stephane Etroy, Executive Vice-President and Head of Private Equity at CDPQ. “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.”