Wendel has completed its acquisition of AlliedBarton Security Services from funds managed by Blackstone for $1.7bn.

Wendel, a global investment firm, has completed its acquisition of AlliedBarton Security Services, one of the largest security officer services companies in the United States, from funds managed by Blackstone, one of the world’s leading alternative asset managers, for $1.7bn. “AlliedBarton is a world-class franchise with a tremendous reputation for integrity and reliability and a very impressive management team, led by Bill Whitmore. The company has an outstanding track record of profitable growth and cash generation. It is well positioned to continue to grow both organically and through acquisitions. This is Wendel’s second investment in North America in less than seven months and represents a significant step in our efforts to diversify geographically, particularly when considering that AlliedBarton’s business is predominantly in the US” Frédéric Lemoine, Wendel’s Chairman.