Ava Risk Group Acquires GJD
♦ Ava Risk Group Acquires GJD – ASX-listed Ava Risk Group has entered into a sale and purchase agreement to acquire 100 per cent of MTD Holdings, the parent company of perimeter security manufacturer, GJD, for more than $A10 million.
GJD is a UK-based security equipment designer and manufacturer specialising in security space detection and intruder detection systems, some of whose products are distributed locally by Perth-based Security Integrators Australia.
GJD’s products include professional grade external detector equipment as well as infrared and white-light LED illuminators and automatic number plate recognition cameras, a market segment that grew 50 per cent over the last financial year.
“We’re delighted to welcome the GJD management team, employees and shareholders to the Ava Group,” said Ava Risk Group CEO, Rob Broomfield. “The acquisition is an exciting opportunity to increase our global reach and access to new customers, particularly in the large markets of the UK and Europe.
“Our combined product portfolio is highly relevant to our respective end customers, and we can turbo-charge distribution by combining GJD’s go-to-market access with Ava’s current growth strategy. Importantly, this transaction represents significant strategic value for both FFT and BQT and is complementary to their existing growth initiatives.”
GJD Chairman, and major shareholder, Mark Tibbenham, said GJD’s strategic fit with Ava has been obvious for some time.
“We are very pleased to have found a world class home for GJD’s employees and customers,” Tibbenham said. “We will continue to capitalise on the growing global demand for our award-winning products. I am very excited to be a shareholder in Ava and about the value we can create as a combined business.”
GJD turned over around $A8 million last year with a gross profit margin of 46 per cent, with UK sales making up 50 per cent of total, Europe being 37 per cent and other revenues accounting for the remaining 13 per cent.
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