Armor sold by Baird

Baird Capital Partners Europe has completed the exit of ArmorGroup International by selling its remaining stake to G4S, a UK security, for 80 pence per share in cash, a total consideration of £44m.

ArmorGroup, a London-headquartered provider of security services, was floated in 2004 in an IPO that saw Baird sell the bulk of the stake it had acquired in a £9m MBO in November 2003.

The investment has generated an overall return on investment of 38%.