The Blackstone Group Announces Acquisition Of AlliedBarton Security Services -- Security Today

The Blackstone Group Announces Acquisition Of AlliedBarton Security Services

Jul 28, 2008

AlliedBarton Security Services and The Blackstone Group recently announced a definitive agreement under which the private equity fund managed by The Blackstone Group will acquire AlliedBarton.

“This transaction is a tremendous opportunity to fuel our continued growth,” said Bill Whitmore, chairman, president and CEO of AlliedBarton Security Services. “We have transformed ourselves into the country’s leading physical security company in a few short years and our relationship with The Blackstone Group demonstrates our management-led commitment to continued dynamic growth which will energize our investment in our people, technology and training.”

“Blackstone is attracted to AlliedBarton’s leading market position and the strong fundamentals of the sector,” said Chinh Chu, senior managing director with The Blackstone Group.

“We look forward to working with AlliedBarton’s outstanding management team to help them pursue their exciting growth strategy both organically and via acquisitions.”

The transaction is expected to close in August subject to certain government approvals and other customary conditions. Credit Suisse and Lehman Brothers acted as financial advisor to AlliedBarton. Bank of America, Blackstone Advisory Services, HSBC, and Anne Yang of Old Well LLC, acted as financial advisors to Blackstone. Skadden, Arps,

Slate, Meagher & Flom LLP acted as AlliedBarton’s legal counsel. Simpson Thacher & Bartlett LLP acted as legal counsel to Blackstone.

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