Blackstone to acquire AlliedBartonThe Blackstone Group has agreed to acquire AlliedBarton Security Services, a US provider of security personnel. Financial terms were not disclosed, but a source close to the deal said that AlliedBarton had revenues of around £1bn.
Pennsylvania-based AlliedBurton has 50,000 employees and 100 offices, with a client base of several thousand companies across the US, according to a statement.
Chinh Chu, senior managing director, Blackstone, said, 'Blackstone is attracted to AlliedBarton's leading market position and the strong fundamentals of the sector. We look forward to working with AlliedBarton's outstanding management team to help them pursue their exciting growth strategy both organically and via acquisitions.'
Peter Wallace, managing director, Blackstone, added, 'AlliedBarton has a tremendous franchise and sets the industry standard for professionalism. We look forward to supporting the strong management team during the next phase of the company's evolution.'
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Private Equity News» By News Type» Deal News
Private Equity News» By Region» North America» United States
