New York, NY and Santa Ana, CA July 14, 2015 –Warburg Pincus, a leading global private equity firm focused on growth investing, today announced it has entered into a definitive agreement to make a major investment in Universal Services of America (“Universal” or “Company”), a leading security service company, alongside company management and Partners Group, its current financial partner. Terms of the transaction were not disclosed. The transaction is subject to customary closing conditions, including receipt of regulatory and third-party consents.
Employing more than 44,000 uniformed security officers operating out of 100+ locations nationwide, Universal is the fastest growing security services company in the industry. The company provides an innovative mix of traditional security services with cutting edge systems and technology servicing a broad and diverse customer set.
“We are excited to have Warburg Pincus as our team's new incoming partner. Our team is impressed by Warburg Pincus’ clear track record of success and we have been very impressed by the team’s grasp of our business and what it takes to win in the security services industry. Warburg Pincus’ investment will enable us to continue to expand into new markets, make strategic acquisitions, and grow our scale,” said Mr. Steve Jones, Chief Executive Officer, Universal Services of America. “We would also like to thank Partners Group for its support during the past six years, first as an investor in our corporate debt and later as a major shareholder, as it helped build Universal into the industry leader that it is today.”
“Universal is the fastest growing player in the U.S. security services market. We are excited to be partnered with Steve and his management team. We anticipate the Company’s continued growth in size and market share due to the strength of its brand and innovative approach to recruiting, hiring, and training," said Chandler Reedy, Managing Director at Warburg Pincus.
“We are very proud of what Partners Group and Universal have accomplished together and are confident that this success will continue well into the future," said Dave Layton, Managing Director and Head of Private Equity Americas at Partners Group.
Baird acted as financial advisor to Partners Group and Universal Services of America. Credit Suisse acted as financial advisor to Warburg Pincus.
