Allied Universal to receive major investment from CDPQ

Allied Universal says the investment from CDPQ will support its long-term growth and strategy. Part of CDPQ’s investment also consists of up to approximately $400 million of primary capital which we will be used to execute on a pipeline of M&A opportunities.

“I am very proud to have one of the world’s leading institutional investors commit to Allied Universal and back our vision for success,” said Steve Jones, CEO, Allied Universal, in a prepared statement. “Our team has worked hard to build the best security company in the world.  We are all excited about the future of Allied Universal as well as our plans for continuing to grow both organically and through strategic acquisitions in both the manned guarding and technology sectors. We look forward to accomplishing great things with CDPQ as our long-term partner.”

“This investment, which represents one of the largest private transactions in business services, enables us to invest in a national leader in facility and security services, a sector that will continue to experience sustained organic growth and industry consolidation,” said Stephane Etroy, executive vice-president and head of Private Equity at CDPQ. “We look forward to supporting Allied Universal’s talented management team as they continue to grow this world-class business and build on its track record of providing its clients a customized mix of manned guarding and security technology solutions.”

The transaction is expected to close by approximately the third quarter of 2019, following customary closing conditions, including regulatory approvals.