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Tuesday, Mar 19, 2024
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Allied Universal Holder Completes Sale

A shareholder in Santa Ana’s Allied Universal, the largest North American security firm, said it completed its sale of a majority stake.

Wendel SE, a French-based investor, said it sold 79% of its total investment in Allied Universal, generating net cash proceeds of $721 million.

It sold the stake to Caisse de dépôt et placement du Québec (CDPQ), Canada’s second largest pension fund, and a new investment group led by Warburg Pincus and an affiliate of the J. Safra Group. The deal was originally announced in February.

Wendel said it will retain 6% of Allied Universal, whose CEO is Steve Jones.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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