Vivint owners sell AlliedBarton for $1.67 billion
NEW YORK—Blackstone, a private equity firm based here, today announced the $1.67 billion sale of security guard company AlliedBarton to Wendel, a Paris-based private equity group.
Blackstone, which owns Vivint, first discussed selling AlliedBarton in March. The estimated value of the company was then $1.5 billion. The deal is expected to be closed in the third quarter of this year.
“We are very excited to join Wendel,” Bill Whitmore, chairman and CEO of AlliedBarton, said in a prepared statement. “Their long-term investment philosophy and successful track record of building world-class companies will help AlliedBarton continue its extraordinary growth and achieve the next level of success.”
AlliedBarton currently has more than 3,300 customers, 120 regional offices throughout the United States and more than 60,000 employees.
Contacted by SSN, AlliedBarton declined to comment further than its prepared statement.
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