Done Deal: Allied Barton Acquired for $1.68 Billion
AlliedBarton has officially been acquired. The $2.18 billion company is one of the nation’s largest providers of security guards, and has been purchased by French investment firm Wendel for $1.68 billion.
AlliedBarton is headquartered in Conshohocken, Pa. and has 62,000 employees across the country, helping to protect 3,300 corporate clients. It counts approximately 200 of the Fortune 500 in its client list and has 120 offices throughout the United States.
A spokesperson said the deal is not expected to effect local jobs.
Wendel has made an equity investment of approximately $687 million for 96 percent ownership in the company, alongside AlliedBarton’s management team.
The market for outsourced security officer services is “estimated to be greater than $20 billion and is very fragmented,” according to a Wendel statement. The newly acquired AlliedBarton plans to grow organically and through acquisitions. In fact, AlliedBarton made 12 acquisitions since 1998, helping it grow from a regional company to an industry leader.
Frédéric Lemoine, chairman of Wendel’s executive board, said AlliedBarton “has an outstanding track record of profitable growth and cash generation” and is “well-positioned to continue to grow both organically and through acquisitions.”
Bill Whitmore, chairman and CEO of AlliedBarton said: “We are very excited to join Wendel. Their long-term investment philosophy and successful track record of building world-class companies will help AlliedBarton continue its extraordinary growth and achieve the next level of success.”
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