Blackstone selling security services company AlliedBarton to Wendel for about $1.67B

Investment firm Blackstone is selling the security services company AlliedBarton to French investment firm Wendel SE for about $1.67 billion

AlliedBarton, based in Philadelphia, has more than 3,300 customers and more than 60,000 workers. It provides security guards to industries such as health care, government services, petrochemicals and retail.

The Blackstone Group LP is based in New York.

The deal is targeted to close later this year.

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