Apax Funds Complete Sale of Stake in Garda World Security Corporation

NEW YORK and LONDON, May 26, 2017 /PRNewswire/ -- Apax Partners LLP ("Apax") announced today that a subsidiary of funds advised by Apax has completed the sale of its remaining shares of the parent company of Garda World Security Corporation ("GardaWorld"), one of the world's largest privately owned security and cash services providers. The stake has been acquired by Stephan Crétier, Founder, Chairman and Chief Executive Officer of GardaWorld, along with certain members of management and an entity held by investment funds affiliated with Rhône Capital.

Mr. Crétier said, "We would like to thank Apax for their commitment and support in expanding GardaWorld over the last five years. Since November 2012, the company underwent exceptional growth, almost doubling in size in terms of its revenues and its employees. Apax has been a great partner, and extremely supportive of the investments made to expand the business and position GardaWorld to achieve long-term growth."

Ashish Karandikar, Partner at Apax, added, "We are proud of our partnership with Stephan Crétier and his team as GardaWorld achieved tremendous growth both organically and by executing a disciplined M&A program. Through Stephan's leadership, GardaWorld has built the preeminent security services brand name globally, and we are proud of the success we have achieved together.  We wish Stephan and Rhône Capital the best during the next phase of the company's evolution and believe GardaWorld has exceptional opportunities before it."

In November 2012, a consortium formed by Mr. Crétier and a subsidiary of funds advised by Apax Partners acquired publicly listed GardaWorld for C$1.1 billion in cash, including assumed debt.

The Apax Services team advises the Apax Funds regarding investments in a diverse range of businesses, from financial services to industrial and support services. The team, which is spread across Apax Partners' global office network, has advised Apax Funds on more than $3.1 billion of investments (since buyout inception). In addition to GardaWorld, past and current investments include: Quality Distribution, a leading chemical logistics business in the U.S. and Europe; Rhiag, a leading European multinational group in the distribution and sales of automotive spare parts; AssuredPartners, a leading middle market insurance brokerage in the U.S.; Azelis, a leading global distributor of specialty chemicals; Psagot, the largest asset management business in Israel; Bankrate, a leading online publisher, aggregator, and distributor of personal finance content; and, Hub International, a leading middle market insurance brokerage firm in North America.

About GardaWorld
GardaWorld is one of the world's largest privately owned security services providers, offering a range of highly focused business solutions including cash services, protective services and aviation services. GardaWorld's more than 62,000 highly trained, dedicated professionals serve clients throughout North America, the Middle East, Africa and Europe. GardaWorld works across a broad range of sectors, including financial services, infrastructure, natural resources and retail, and services Fortune 500 companies, governments and humanitarian relief organizations. For more information, visit www.garda.com

About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 30-year history, Apax Partners has raised and advised funds with aggregate commitments in excess of $46 billion*. Funds advised by Apax Partners invest in companies across four global sectors of Tech and Telco, Services, Healthcare, and Consumer.  These funds provide long-term equity financing to build and strengthen industry leaders.  For further information about Apax Partners, please visit www.apax.com.

*Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at December 2016. 

Contacts for Apax Partners

For the Americas:

Todd Fogarty
KEKST
Tel: +1 212 521 4854
Email: [email protected]

For EMEA:

Georgiana Brunner, Matthew Goodman or Annabel Clay
Greenbrook Communications
Tel: +44 20 7952 2000
Email: [email protected]

SOURCE Apax Partners LLP