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GardaWorld
GardaWorld Corporation is a Canadian private security firm, headquartered in Montreal, Quebec, with 120,000 employees as of January 2022. Its U.S. business name is United American Security LLC, dba GardaWorld.
GardaWorld International Protective Services, the international division of the company, began operations in 1984. GardaWorld Security Corporation was established as Trans-Québec Security Inc. by Stephan Crétier in 1995, who invested initially $25,000. The company runs physical security guard services and armoured car services globally.
During the mid-2000s, GardaWorld had a number of acquisitions, the one of which was a $391 million deal for the US security-oriented firm ATI Systems International, in which GardaWorld ended up suing ATI's former CEO for allegedly misrepresenting its financial situation, while the CEO sued for wrongful dismissal.
In January 2006, Vance International was purchased from SPX Corporation. In December 2006, Kroll Security International was purchased from Kroll.
On June 3, 2009, GardaWorld announced the sale of its U.S. and Mexico guarding operations to Andrews International for US$44.25 million, following a particularly poor financial performance the previous year; in mid-2008, GardaWorld's stock fell by more than 90%. Debt restructuring followed and the company was left afloat, but looking weak in the eyes of its investors. Over the next few years, the results gradually improved and this was attributed to high demand for services in the Middle East and Afghanistan.
GardaWorld resumed making acquisitions, which drove its debt to $639 million, 4.2 times that of its operating profit (as of September 7, 2012). This has prompted owner Stéphan Crétier to lead a buyout of his firm and he has revealed plans with a British private equity firm, Apax Partners, that could result in a $300 million ownership division of the company.
On July 13, 2015, GardaWorld announced the acquisition of Aegis Defence Services to expand in Africa and the Middle East. The acquisition was completed on 12 October 2015 for $131 million plus an earnout amount.
Rhône acquired the business in 2017, alongside Crétier and some members of management from Apax Partners, in a deal valued at $2.2 billion. Apax originally took the company private in 2012 for about C$1.1 billion.
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GardaWorld
GardaWorld Corporation is a Canadian private security firm, headquartered in Montreal, Quebec, with 120,000 employees as of January 2022. Its U.S. business name is United American Security LLC, dba GardaWorld.
GardaWorld International Protective Services, the international division of the company, began operations in 1984. GardaWorld Security Corporation was established as Trans-Québec Security Inc. by Stephan Crétier in 1995, who invested initially $25,000. The company runs physical security guard services and armoured car services globally.
During the mid-2000s, GardaWorld had a number of acquisitions, the one of which was a $391 million deal for the US security-oriented firm ATI Systems International, in which GardaWorld ended up suing ATI's former CEO for allegedly misrepresenting its financial situation, while the CEO sued for wrongful dismissal.
In January 2006, Vance International was purchased from SPX Corporation. In December 2006, Kroll Security International was purchased from Kroll.
On June 3, 2009, GardaWorld announced the sale of its U.S. and Mexico guarding operations to Andrews International for US$44.25 million, following a particularly poor financial performance the previous year; in mid-2008, GardaWorld's stock fell by more than 90%. Debt restructuring followed and the company was left afloat, but looking weak in the eyes of its investors. Over the next few years, the results gradually improved and this was attributed to high demand for services in the Middle East and Afghanistan.
GardaWorld resumed making acquisitions, which drove its debt to $639 million, 4.2 times that of its operating profit (as of September 7, 2012). This has prompted owner Stéphan Crétier to lead a buyout of his firm and he has revealed plans with a British private equity firm, Apax Partners, that could result in a $300 million ownership division of the company.
On July 13, 2015, GardaWorld announced the acquisition of Aegis Defence Services to expand in Africa and the Middle East. The acquisition was completed on 12 October 2015 for $131 million plus an earnout amount.
Rhône acquired the business in 2017, alongside Crétier and some members of management from Apax Partners, in a deal valued at $2.2 billion. Apax originally took the company private in 2012 for about C$1.1 billion.