Princess Private Equity sells interest in Universal Services of America

16th Jul 2015 12:30

(ShareCast News) - Princess Private Equity sold its controlling interest in Universal Services of America to an affiliate of Warburg Pincus.Universal, an US security services provider, was sold by Princess' investment adviser Partners Group to the global private equity firm.The exit valuation was uplifted from its carrying value at 30 May 2015 and this will be reflected in its net asset value as at 30 June. The transaction is expected to be completed in the coming weeks.Universal Services of America's chief executive Steve Jones said: "Our partnership with Partners Group has created substantial value and accelerated our growth trajectory."We are very much looking forward to the next phase of growth under the stewardship of Warburg Pincus and remain dedicated to providing outstanding service to our clients."Shares in Princess were up 0.62% to 7.65p on Thursday at 11:07.