ALTAMIR AMBOISE : Altamir Amboise commits to its first investment outside of French-speaking Europe in Garda, a Canadian company
Paris, 18 September 2012
Altamir Amboise has committed to its first investment outside of French-speaking Europe via its investment in Apax VIII, a private equity fund advised by Apax Partners LLP, the global private equity firm. Apax VIII has partnered with Stephan Cretier, Founder, Chairman and CEO of Garda, and his management team in order to acquire the Montreal-based Canadian company for C$1.1 billion in cash, including assumed debt. Under the terms of the transaction, the consortium will acquire each Class A share of Garda for C$12.00 in cash. The transaction has been unanimously approved by the Board of Directors of Garda and is subject to regulatory approval.
Founded by Canadian entrepreneur Stephan Cretier, Garda is a leading global provider of security and cash logistics solutions. Mr. Cretier founded the company in 1995 with an investment of C$25,000 and has grown Garda to produce in excess of C$1.2 Bn in annual revenues. Garda continues to pursue its growth strategy both organically and through acquisitions, and management believes its growth objectives will be accomplished more efficiently as a private company. With Apax VIII as a major shareholder, Garda will have access to a more flexible and efficient structure to fuel its growth.
Garda constitutes the first investment outside of French-speaking Europe in which Altamir Amboise will participate. The size of Altamir Amboise's participation in Garda, and in all investments made by the Apax VIII fund, will be four to five times smaller than investments made via Apax France VIII-B. This is due to: 1) the different commitment levels made to each fund, a commitment of up to €90m in Apax VIII, versus a commitment of up to €280m in Apax France VIII-B; and 2) the number of investments expected to be made by each fund, 20 to 25 in Apax VIII, versus 12 to 15 in Apax France VIII-B.
To read the Garda and Apax LLP press release, please go to the following link: http://www.apax.com/news/news-listing/2012/september/garda-announces-agreement-to-be-acquired-by-company-founder-and-ceo-stephan-cretier-and-apax-funds.aspx
About Altamir Amboise
Altamir Amboise has been a listed private equity company since its inception in 1995, and currently has approximately €500 million in assets under management. Until the present, it has invested exclusively through the funds managed by Apax Partners France, a leading private equity firm with 40 years of investing experience. As of July 2012, Altamir Amboise also invests in the funds advised by Apax Partners LLP, one of the world's leading private equity investment groups.
Altamir Amboise gives access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation: Technology, Telecom, Media, Retail & Consumer, Healthcare, and Business & Financial Services.
Apax funds target management buyouts and growth capital investments in which they are either majority owners or lead investors. By aligning their interests with those of the management teams they are backing, Apax funds are in a position to implement ambitious value creation plans.
Altamir Amboise is listed on the NYSE Euronext Paris, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed in the CAC Small (ex CAC Small 90) and CAC All-Tradable (ex SBF 250) indices. The total number of Altamir Amboise ordinary shares in circulation at 30 June 2012 was 36,512,301. For further information, please visit: www.altamir-amboise.fr
Garda is a provider of security and cash logistics solutions. With headquarters in Montreal, Canada, the firm's 45,000 dedicated professionals, among the most highly qualified and best-trained in the industry, serve clients in countries throughout North America, Europe, Latin America, Africa, Asia and the Middle East. Garda works with clients in a broad range of sectors and industries including financial institutions, retailers, governments, humanitarian relief organizations and the natural resources, construction and telecommunications industries. For further information about Garda, please visit: www.garda.com
Tel: +33 1 53 65 01 33
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