The firm is representing Garda World Security Corporation, a portfolio company of Apax Partners, in connection with its announced 12-year, $1.4 billion strategic agreement with Bank of America to manage Bank of America’s cash processing and imaging services in 32 locations across the United States. As part of this transaction, Garda will acquire Bank of America’s money rooms and related facilities for those locations. The terms of the transaction were not disclosed. The transaction is expected to close in the first quarter of 2014.
Garda is the largest privately-owned business solutions and security services company in the world. With headquarters in Montreal, Canada, Garda has 45,000 professionals serving clients in countries throughout North America, Europe, Latin America, Africa, Asia and the Middle East. Garda works across a broad range of sectors, including financial institutions, natural resources, retail, construction, telecommunications and manufacturing, and on behalf of Fortune 500 companies, governments, non-governmental organizations and humanitarian relief organizations.
The Simpson Thacher team included: Ryerson Symons, Michael T. Holick, Chi Pan and Shelly Lin (M&A); Brian Robbins, Douglas Tang and Alina Finkelshteyn (Executive Compensation and Employee Benefits); Krista McManus (Real Estate); Jonathan Cantor and Chang Won Choi (Tax); and Timothy Mulvihill (Environmental).