Canadian Security Magazine

News
Allied Universal satisfies conditions to complete G4S acquisition


According to a statement issued by Allied Universal on Tuesday, the company is now able to complete its acquisition of G4S, having satisfied or waived offer conditions, including required antitrust and regulatory approvals.

The acquisition is valued at £3.8B at the offer price of 245p per G4S share. Based on the combination, Allied Universal says it is now the third largest employer in North America and the seventh largest in the world.

“This is truly a very significant moment in Allied Universal’s history,” said Steve Jones, chairman & CEO of Allied Universal, in a statement. “Our vision is not only to be the best security company but to be the best corporate services partner in a world of evolving risk. I look forward to working with Ashley Almanza and G4S’s senior management team through the integration process with the goal of establishing a global leader, equipped to lead the industry through the next phase of its development. Together, we will deliver the highest value proposition to customers in the security industry.”

“Steve and his team have created a world class security business in North America, and I have enormous respect for the business they have built,” added Ashley Almanza, CEO of G4S. “The combination of the skills, experience and talents in our two companies creates a unified business that will be unmatched in every important dimension including scale, coverage, employee opportunity, innovation and customer experience and, of course, performance. I look forward to working alongside the Allied Universal team to deliver the considerable benefits that I know this combination can achieve.”

Advertisement

Allied Universal recently announced the appointments of Mike Beregovsky as chief merger & acquisition officer and Tim Brandt as the company’s global CFO.