IMG Acquires Securely From Electra Group.
IMG Acquires Securely – Intelligent Monitoring Group, through its wholly owned subsidiary ADT Security New Zealand, has entered into a binding agreement to acquire approximately 3100 security and monitoring customers of Securely from Electra Group.
IMG’s acquisition of Securely is part of Electra’s strategy to shift its focus away from security operations in New Zealand and emphasise its core business.
The opportunity to acquire Securely was presented immediately after IMG’s ADT purchase and received strong endorsement from local ADT New Zealand management.
From the point of view of IMG, the acquisition highlights the organisation’s ongoing appetite for expansion on both sides of the Tasman.
Led by Alison Kingdon, ADT’s New Zealand team operates independently and is committed to reinforcing ADT’s reputation as the leading security provider in New Zealand. Transitioning Securely’s customers to ADT’s Onehunga control room is scheduled to be completed by December 2023.
Since closing the ADT Security acquisition August 1, IMG has received positive feedback from both employees and clients regarding the acquisition, which brings ADT back to local market leadership during a crucial period where security and oversight of assets and individuals is paramount.
ADT teams in Australia and New Zealand, led by Geoff Campbell Brown and Alison Kingdon respectively, have initiated improvements on product offerings and begun transitioning from the previous owners’ systems and processes.
IMG Acquires Securely From Electra Group
IMG, inclusive of ADT, traded above the anticipated levels set in the acquisition model for August with the performance of IMS (IMG’s business before acquiring ADT) having surpassed target levels, positioning it in line with the $A6m EBITDA goal stated during the ADT acquisition.
“We are excited about what the future holds and are working to lift our service levels, and providing value for all our customers, be they dealer or direct, in order to grow and broaden the security offering to world-class levels,” said IMG’s Dennison Hambling.
According to Hambling said that following its first 8 weeks of ADT Security ownership in Australia and New Zealand, ADT’s integration progress remains on track, with IMG set to achieve its profitability forecast ($31m annualised EBITDA) declared during the ADT acquisition.
“We have an exciting 12 months ahead and look forward to updating the market on progress at our AGM in October,” Hambling said.
You can find out more about ADT Security New Zealand here, learn about IMG here, and read more SEN news here.
“IMG Acquires Securely From Electra Group.”
