Blackstone To Sell AlliedBarton To Wendel

NEW YORK–(BUSINESS WIRE)–Blackstone (NYSE: BX) announced today that private equity funds it manages have agreed to sell AlliedBarton to Wendel SE (EPA: MF) for approximately $1.67 billion. The transaction is expected to close later this year, and is subject to customary regulatory approvals.

AlliedBarton is a leading U.S.-based provider of security services to more than 3,300 customers, including 200 members of the Fortune 500. Founded in 1957 and based in suburban-Philadelphia, AlliedBarton has more than 60,000 employees and 120 regional offices located throughout the United States, serving clients across diverse end-markets, including, for example, commercial real estate, higher education, healthcare, financial services, government services, aerospace and defense, petrochemicals and retail.

Bill Whitmore, President and CEO of AlliedBarton noted: “We thank Blackstone for being a tremendous partner over the last seven years and I appreciate the contributions made by Peter Wallace and the entire Blackstone team. Blackstone’s counsel and invaluable support have been instrumental to the development and growth of our business, which has resulted in a successful investment outcome for all equity holders. We also look forward to working with Wendel to continue AlliedBarton’s extraordinary growth and achieve the next level of success.”

“It has been a privilege partnering with Bill Whitmore and the exceptional management team at AlliedBarton in supporting their efforts to build the preeminent security services firm in the U.S. We are very proud of the accomplishments and significant value that has been created under our ownership, during which the Company substantially grew revenues, profitability and employment,” said Peter Wallace, Senior Managing Director at Blackstone.

Credit Suisse acted as exclusive financial advisor and Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone.

About Blackstone:

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. Our asset management businesses, with over $300 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About AlliedBarton:

AlliedBarton Security Services is the industry’s premier provider of highly trained, responsive security personnel. Client-focused security officers and managers located across the country are supported by national resources developed from over 50 years of security experience. More than 60,000 employees and 120 offices provide security for several thousand clients in many industries, including approximately 200 Fortune 500 companies. As the most honored security officer services company, AlliedBarton leads the industry in award-winning programs. AlliedBarton has been recognized by Training magazine, ASTD, Corporate University Xchange, Leadership Excellence and the American Business Awards, among others.

Forward Looking Statements:

This announcement may contain forward-looking statements, including statements about the completion of the purchase of AlliedBarton, anticipated benefits of the proposed transaction and other matters that are not historical facts. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Blackstone does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.