Blackstone to acquire AlliedBarton Security Services

by Richard Kilner

Story link: Blackstone to acquire AlliedBarton Security Services

A deal has been struck between AlliedBarton Security Services, a leading physical security company, and asset manager/financial advisory firm The Blackstone Group, whereby Blackstone’s private equity fund will acquire AlliedBarton.

The agreement is a tremendous opportunity for AlliedBarton to enjoy continued growth, according to its chairman, CEO and president Bill Whitmore.

Blackstone’s Chinh Chu, senior managing director, explained that AlliedBarton was seen as a good proposition due to its leading position in the security market.

The deal remains subject to approval from regulatory bodies, but if given the go ahead is planned to be officially completed in August of this year.