M&A Deal Summary

CDPQ, Alvarez & Marsal Capital Partners and MKH Capital Partners Acquire Allied Universal

On February 20, 2019, asset manager CDPQ, private equity firm Alvarez & Marsal Capital Partners and private equity firm MKH Capital Partners acquired safety/security company Allied Universal from Warburg Pincus and Wendel Group for 7.0B USD

Acquisition Highlights
  • This is CDPQ’s 1st, Alvarez & Marsal Capital Partners’ 1st and MKH Capital Partners’ 1st transaction in the Safety/Security sector.
  • This is CDPQ’s , Alvarez & Marsal Capital Partners’ and MKH Capital Partners’ largest (disclosed) transaction.
  • This is CDPQ’s 12th, Alvarez & Marsal Capital Partners’ 8th and MKH Capital Partners’ 1st transaction in the United States.
  • This is CDPQ’s 2nd, Alvarez & Marsal Capital Partners’ 2nd and MKH Capital Partners’ 1st transaction in California.

M&A Deal Summary

Date 2019-02-20
Target Allied Universal
Sector Safety/Security
Buyer(s) CDPQ
Alvarez & Marsal Capital Partners
MKH Capital Partners
Sellers(s) Warburg Pincus
Wendel Group
Deal Type Secondary Buyout
Deal Value 7.0B USD
Advisor(s) Barclays Investment Bank
Morgan Stanley (Financial)
Cleary Gottlieb Steen & Hamilton (Legal)

Target

Allied Universal

Santa Ana, California, United States
Allied Universal is a facility services company and the largest security services provider in North America. The company provides unparalleled security services and solutions to serve, secure and care for the people and businesses in our communities. It combines people and technology to deliver tailored solutions that allow clients to focus on their core business, achieve goals, seize opportunities and exceed stakeholder expectations. Allied Universal was founded in 2016 and is based in Santa Ana, California.

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Buyer(S) 3

Buyer

CDPQ

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.


DEAL STATS #
Overall 58 of 101
Sector (Safety/Security) 1 of 1
Type (Secondary Buyout) 16 of 20
State (California) 2 of 7
Country (United States) 12 of 24
Year (2019) 2 of 9
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 PharmEasy

Mumbai, India

PharmEasy is - Pharmacy made Easy. PharmEasy help patients connect with local pharmacy stores and diagnostic centres in order to fulfil their extensive medical needs. PharmEasy was founded in 2015 and is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-07 Lightspeed

Montreal, Quebec, Canada

Lightspeed is a provider of POS platform for stores and restaurants. the company provides customers with a simple way to build, manage, and grow their retail, restaurant, or eCommerce business, and create a best-in-class customer experience. Its end-to-end solutions unify inventory, customer management, sales, and analytics across all channels, in-store, and online. Lightspeed was founded in 2005 and is based in Montreal, Quebec.

Sell -
Buyer
DESCRIPTION

Alvarez & Marsal Capital Partners (A&M Capital) is a private equity investment firm affiliated with financial advisory and due diligence provider Alvarez & Marsal. A&M Capital looks to invest $20 to $75 million in North American and Western European companies valued up to $750 million. The Firm looks for control situations where it can leverage its operational expertise. Sectors of interest include general industrial/manufacturing, consumer, retail, healthcare, business services, transportation, and energy. Alvarez & Marsal Capital Partners was established in 2011 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 8 of 26
Sector (Safety/Security) 1 of 2
Type (Secondary Buyout) 2 of 11
State (California) 2 of 4
Country (United States) 8 of 20
Year (2019) 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-06 PatientCare EMS Solutions

Tyler, Texas, United States

PatientCare EMS Solutions is a provider of ground-based 911 emergency ambulance services and other critical healthcare logistics solutions which has forged solid reputations in communities both large and small. The company provides its partner's transparency into technology and data, so together we can deploy specialists and dispatch transportation in the most timely manner possible for more than 350,000 patients a year. PatientCare EMS Solutions is based in Tyler, Teaxs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-16 La Patria

Bologna, Italy

La Patria Srl offers fire prevention, video surveillance, anti-intrusion systems for the protection of the home, business, and company. La Patria was founded in 1950 and is based in Bologna, Italy.

Buy -
DESCRIPTION

MKH Capital Partners is a private investment firm focused on control buyouts and select minority of mid-sized companies valued between $20 and $300 million. The Firm will consider opportunities through the US, Canada, and Latin America with a focus on family or entrepreneur owned companies in search of a partner. MKH Capital Partners was formed in 2020 and is based in Coral Gables, Florida.


DEAL STATS #
Overall 1 of 4
Sector (Safety/Security) 1 of 1
Type (Secondary Buyout) 1 of 1
State (California) 1 of 2
Country (United States) 1 of 4
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Clean Streak Ventures

Altamonte Springs, Florida, United States

Clean Streak Ventures is an express car wash platform operating under the Clean Machine and Top Dog Express brands. It provides modern express car wash locations on prime real estate with excellent wash quality and differentiated service for a growing base of recurring subscription members. Clean Streak Ventures is based in Altamonte Springs, Florida.

Buy -

Seller(S) 2

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 174 of 251
Sector (Safety/Security) 4 of 4
Type (Secondary Buyout) 27 of 42
State (California) 21 of 27
Country (United States) 100 of 137
Year (2019) 2 of 21
Size (of disclosed) 4 of 63
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-11 IndiaFirst Life

Mumbai, India

IndiaFirst Life is a life insurance company that provides participating, non-participating and unit-linked insurance products. The company distributes its products primarily to Bank of Baroda and Andhra Bank customers through the banks’ 8,600+ branch network. IndiaFirst Life was founded in 2009 and is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-25 Kestra Financial

Austin, Texas, United States

Kestra Financial is a provider of independent advisor platforms that empowers sophisticated independent financial professionals, including traditional and hybrid RIAs, to prosper, grow and provide superior client service. Kestra Financial was founded in 1997 and is based in Austin, Texas.

Buy -
SELLER

Wendel Group

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1704
Size Large
Type Sector Agnostic
DESCRIPTION

Wendel Group is a publicly traded investment group that seeks to invest €200 to €700 in public and private companies. The Firm focuses on opportunities across France, Germany, and the Benelux, but will also consider opportunities in greater Europe, North America, and select regions of Africa. Target companies typically exhibit predictable cash-flows, high barriers to entry, and are leaders in their respective markets. Wendel was originally established in 1704 and is based in Paris.


DEAL STATS #
Overall 9 of 14
Sector (Safety/Security) 2 of 2
Type (Secondary Buyout) 3 of 5
State (California) 1 of 1
Country (United States) 3 of 3
Year (2019) 2 of 2
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-14 PlaYce

Sèvres Cedex, France

PlaYce is a pan-African property company created by CFAO to support its retail development plan. SGI Africa develops and operates shopping centers primarily through its PlaYce brand. The company opened its first PlaYce shopping center in Côte d'Ivoire at the end of 2015 (PlaYce Marcory, Abidjan) and aims to expand into seven other West and Central African countries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-15 Crisis Prevention Institute

Milwaukee, Wisconsin, United States

Crisis Prevention Institute is a training organization specializing in the safe management of disruptive and assaultive behavior. CPI's training reduces the frequency and impact of incidents resulting from aggressive behavior in the workplace, improve professionals' confidence levels, help customers comply with regulatory requirements, and create a safer environment for all involved. Crisis Prevention Institute was founded in 1980 and is based in Milwaukee, Wisconsin.

Buy $910M