GardaWorld’s $3.95 Billion Recapitalization

Simpson Thacher represented Garda World Security Corporation (“GardaWorld”), Founder, Chairman and CEO Stephan Crétier, and GardaWorld management in its announced sale of Rhône Group’s equity interest in GardaWorld to funds advised by BC Partners in a C$5.2 billion (approx. $3.958 billion) recapitalization, which is the largest private buyout in Canadian history.

Following the transaction close, BC Partners will have a 51% common equity interest in GardaWorld while Stephan Crétier, together with select members of management, will hold 49%. The transaction, which is subject to customary closing conditions, is expected to close by late 2019.

GardaWorld is the world’s largest privately-owned security services company, offering cash services, physical and specialized security solutions and, with the Crisis24 portal, the dissemination of vetted information related to international security.

Barclays and TD Securities acted as financial advisors to GardaWorld. Scotiabank acted as financial advisors to BC Partners. Committed financing for the transaction was provided by JPMorgan Chase Bank, Bank of America, Barclays and TD Securities. Simpson Thacher & Bartlett LLP and Séguin, Racine LLC acted as legal counsel to GardaWorld while Kirkland and Ellis LLP and Osler, Hoskin & Harcourt LLP acted as legal counsel to BC Partners.

The Simpson Thacher team included Ryerson Symons (Picture), Sebastian Tiller, Johanna Mayer and Loren Shokes (M&A); Jeannine McSweeney and Jason Fixelle (ECEB); Gary Mandel, Rob Holo and Sophie Staples (Tax); Kenneth Wallach, Brian Rosenzweig and Ryan Bekkerus (Capital Markets); Adam Shapiro, Eli Isak and Leah Nudelman (Banking & Credit); Lori Lesser and Melanie Jolson (Intellectual Property); Michael Isby (Environmental); and Sara Razi, Ellen Frye and Kelly Karapetyan (Antitrust).

Involved fees earner: Ryan Bekkerus – Simpson Thacher & Bartlett; Jason Fixelle – Simpson Thacher & Bartlett; Ellen Frye – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Eli Isak – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Gary Mandel – Simpson Thacher & Bartlett; Johanna Mayer – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Leah Nudelman – Simpson Thacher & Bartlett; Sara Razi – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Adam Shapiro – Simpson Thacher & Bartlett; Loren Shokes – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Ryerson Symons – Simpson Thacher & Bartlett; Sebastian Tiller – Simpson Thacher & Bartlett; Kenneth Wallach – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Garda World Security Corporation;

Author: Ambrogio Visconti