ADT Security Acquired By IMG For $A45 Million.
ADT Security Acquired By IMG – ASX-Listed Intelligence Monitoring Groups has acquired the ADT Security monitoring business in ANZ from Tyco Australia for $A45 million.
ADT is one of Australia’s largest alarm monitoring businesses, with 340 staff and annual revenues of $95 million – the combined businesses will have annual turnover of $134 million and EBIT of 25 million this financial year, projected to rise to $31 million next year.
The ADT acquisition adds 110,000 monitored lines to IMG’s existing 70,000 lines and IMG’s Dennison Hambling told AFN the company intended to accelerate expansion aiming to become the largest provider of security monitoring services in Australia with a greater focus on monitoring wireless DIY residential solutions and plans to grow ADT’s commercial integration business.
The ADT business incorporates installation, service and maintenance, patrols, and security monitoring, and Dennison said the combined business would generate about 45 per cent of its business from household monitoring security, 45 per cent from monitoring of business premises, and 10 per cent from medical centres.
According to Dennison, the local home and business security industry was fragmented and had low penetration compared to other world markets. But while there is opportunity, Dennison said there was a shortage of skilled security installers in Australia and wages were increasingly challenging.
The ADT buy is unlikely to be IMG’s last. This recent acquisition comes after IMG acquired the monitored customer base of Bellrock, which entered voluntary administration in Dec 2022. That acquisition added more than $1.4 million of annualized sales to IMG, with clients migrated to IMG’s Patriot platform by mid-April 2023. Other recent IMG acquisitions in 2023 include Monitored 24/7 early 2023, and Advanced Inland Security mid-2022.
“We are seeing more and more independent security companies looking to retire, or seeking succession options,” Hambling said at the time. “We believe IMG is positioned as the only significantly funded Australian-backed business, with scale to provide a sustainable pathway for the over 2000 Australian independent security providers to…retire in the next 5 years.”
You can find out more about IMG here or read more SEN news here.
“ADT Security Acquired By IMG For $A45 Million.”
