• Wendel and Existing Shareholders to Sell Additional Stake in Allied Universal®

    来源: Nasdaq GlobeNewswire / 18 九月 2019 19:54:49   Europe/London

    Wendel and Existing Shareholders to Sell Additional Stake in Allied Universal®


    Wendel, Caisse de dépôt et placement du Québec (“CDPQ”) and other existing shareholders have reached an agreement to sell an additional stake in Allied Universal (the “Company”) to a new investment group led by Warburg Pincus (“WP”) and an affiliate of the J. Safra Group.

    The transaction is expected to close by the end of 2019, commensurate with the Caisse de dépôt et placement du Québec (“CDPQ”) investment announced in February 2019, and values Wendel’s total stake at approximately $900 million, subject to certain items at closing. At close, Wendel will receive over 70% of the value in cash, representing total cash proceeds of approximately $650 million, and will retain an approximately 8% residual equity stake in Allied Universal. As part of the transaction, Wendel has agreed to limited governance and liquidity rights commensurate with the small size of its remaining ownership. Wendel will sell additional shares to the extent the Warburg Pincus investment group raises additional capital.

    “Since our 2015 investment in AlliedBarton, the Company has grown revenues from $2 billion to over $7 billion, achieved through consistent organic growth, M&A, and the merger with Universal Services of America. We are extremely proud of the progress that Steve Jones and the entire Allied Universal team have made during our partnership and look forward to supporting the Company’s continued success,” said Adam Reinmann, Managing Director and CEO of Wendel North America.

    David Darmon, Wendel Group’s Deputy CEO, said: "I am delighted to see that more high-quality investors are joining Allied Universal to further develop and strengthen its leadership position in the industry. This transaction also provides Wendel additional capital with which to invest in more high-quality companies and grow its portfolio over the long-term.”

    The transaction close is subject to customary closing conditions, including regulatory approval. 

    History of Wendel’s Investment in Allied Universal
    In December 2015, Wendel acquired AlliedBarton Security Services for approximately $1.68 billion. As part of the transaction, Wendel made an investment of approximately $687 million, for approximately 95% ownership in the Company, alongside AlliedBarton's management team. In 2016, AlliedBarton merged with Universal Services of America, owned by Warburg Pincus, creating Allied Universal, the leading security company in North America. Following completion of the merger, in exchange for its contribution of its shareholding in AlliedBarton, Wendel received approximately 33% of the shares of Allied Universal and a cash payment of $388 million. In October 2018, Wendel invested an additional $78 million to support Allied Universal’s acquisition of U.S. Security Associates. On February 20, 2019, Allied Universal’s shareholders announced they entered into an agreement to sell an approximately 40% stake in Allied Universal to CDPQ at an enterprise value of more than $7 billion.

    About Allied Universal
    Allied Universal, a leading security and facility services company in North America with over 215,000 employees and revenues over $7.3 billion, provides unparalleled security services and technology solutions. With offices located throughout the U.S. as well as internationally (Canada, Mexico and the United Kingdom), Allied Universal is responsible for protecting client sites covering multiple specialty sectors such as higher education, healthcare, retail, commercial real estate, government and corporate campuses, etc. Supported by vast experience gained from being in business for over 60 years, Allied Universal provides proactive security services and cutting-edge smart technology to deliver evolving, tailored solutions that allow clients to focus on their core business. Through world-class customer service, highly advanced systems and cohesive technology solutions… Allied Universal is There for you™. For more information, please visit www.aus.com.


    Agenda

    11.07.2019
    2019 Investor Day / Publication of NAV of September 30, 2019, and Q3 2019 trading update (pre-market release).

    03.18.2020
    2019 FY Results / Publication of NAV of December 31, 2019 (post-market release)

    04.30.2020
    Q1 2020 Trading update / Publication of NAV as of March 31, 2020 (pre-market release).

    06.04.2020
    2020 Annual General Meeting

    07.30.2020
    H1 2020 results / Publication of NAV as of June 30, 2020, and condensed Half-Year consolidated financial statements (post-market release).

    11.04.2020
    2020 Investor Day / Presentation of NAV as of September 30, 2020, and Q3 2019 trading update (publication post-market release on 11/03/2020).

    About Wendel
    Wendel is one of Europe's leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau Veritas, Cromology, Stahl, IHS, Constantia Flexibles, Allied Universal and Tsebo. Wendel plays an active role as a controlling or lead shareholder in these companies. We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.
    Wendel is listed on Eurolist by Euronext Paris.

    Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019

    Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018

    Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.


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