GardaWorld
 | |
| Company type | Private |
|---|---|
| Industry | Security & Protection Services and Cash Management Services |
| Genre | Security services |
| Founder | Stephan D. Cretier |
| Headquarters | , |
Key people | CEO: Stephan D. Cretier CFO: Patrick Prince |
| Services | Security and Cash Services Solutions |
Number of employees | 102 000 (January 2020) |
| Website | www |
GardaWorld Corporation is a Canadian private security firm, based in Montréal, Québec, with 102 000 employees as of January 2020.
GardaWorld International Protective Services,[1] the international division of the company, began operations in 1984. GardaWorld Security Corporation was established as Trans-Québec Security Inc. by Stéphan Crétier in 1995, who invested initially $25 000.[2] The company runs physical security guard services and armoured car services globally, with over 200 offices worldwide.[3]
Activities
GardaWorld is involved in various business fields:[4]
- Protective services: security officers, mobile patrol, loss prevention and investigations services across Canada
- Aviation services: pre-board screening in 28 Canadian airports with the Canadian Air Transport Security Authority
GardaWorld Armoured Truck - International Protective Services : diplomatic protection, crisis management in Asia, Latin America, Africa and in the Middle East [5]
- Cash Services: cash in transit and vault solutions in North America
During the mid-2000s, GardaWorld went on a poorly timed and debt-fueled spree of acquisitions, the most crucial of which was a $391 million deal for Californian security-oriented firm ATI Systems International Inc.[2] This deal however soon proved to be a poor choice; GardaWorld ended up suing ATI’s former CEO for allegedly misrepresenting its financial situation, while the CEO sued for wrongful dismissal.[2]
On June 3, 2009 GardaWorld announced the sale of its U.S. and Mexico guarding operations to Andrews International for a total cash consideration of US$44.25 million, following a particularly poor financial performance the previous year; in mid-2008, GardaWorld’s stock fell by more than 90%.[2] 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.[2]
GardaWorld has also resumed making acquisitions in the past year, which has driven its debt to $639 million, 4.2 times that of its operating profit (as of 7 September 2012).[2] 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.[2]
On August 28, 2013, an agreement had been reached for the acquisition of G4S Cash Solutions Limited in Canada, for approximately $110 million, with the deal expected to be finalized before the end of the year[6]
7/23/19 (via Adam Lewis/PitchBook) BC Partners bought a 51% stake in private security company Garda World Security from Rhône Capital in a deal that values the Montreal-based business at C$5.2 billion (about $3.96 billion). As part of the deal, Garda World (branded as GardaWorld) founder and CEO Stephan Crétier and the company's management team will retain a 49% stake.
It wasn't a particularly lengthy ownership period for Rhône, which 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.
References
- ^ GardaWorld International Protective Services
- ^ a b c d e f g Sean Silcoff (7 September 2012). "Garda World Security founder leads company buyout". The Globe and Mail.
- ^ GardaWorld fast facts
- ^ GardaWorld business units
- ^ Matthew McClearn. "Why is Montreal's GardaWorld on the outs in both Afghanistan and Iraq?". Canadian Business.
- ^ "Sale of G4S Cash Solutions Canada Limited". 28 August 2013. Retrieved 11 September 2013.
External links
