Security Company AlliedBarton Security Services, a portfolio of Wendel SE (MF: PA) will merge with industry counterpart Universal Services of America. Wendel will receive $387 million in cash in addition to 33 percent shares of the combined company that will be called AlliedUniversal.

AlliedBarton, based in Conschohocken, Pennsylvania, and founded in 1957, provides security guard services to business organizations. Wendel acquired a majority stake in the company in December 2015 for $1.68 billion.

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