IMG Expands New Zealand Security Operations With $NZ45 Million Purchase Of Tyco NZ And Red Wolf.
IMG Expands New Zealand Security Operations – Intelligent Monitoring Group has entered into a binding agreement to acquire BlueSky Holdco Limited, which comprises Tyco NZ and Red Wolf, from Johnson Control Luxembourg European Finance, a subsidiary of Johnson Controls International.
The acquisition strengthens IMG’s presence in the New Zealand security and fire protection markets, significantly increases its commercial scale and exposes the business to a wider range of high-end security clients, particularly in government.
Tyco NZ operates under the Wormald brand and is one of New Zealand’s largest fire protection service providers. The company has 12 branches, over 300 staff, and a customer base built on high levels of recurring maintenance demand.
Meanwhile, Red Wolf is a Wellington-based specialist high-security integrator with a strong presence across government, council and commercial customers. The acquisition complements IMG’s existing ADT New Zealand operations, which have historically been stronger outside the Wellington region.
IMG’s NZ$45 million cash purchase is subject to working capital, cash and debt adjustments at completion. On a pro forma basis, Tyco NZ and Red Wolf are expected to contribute FY26 revenue of NZ$89.5 million and EBITDA of NZ$10.9 million, before cost synergies, transaction costs or restructuring charges.
IMG will fund the acquisition through debt drawn from existing NAB banking facilities, including its $35 million acquisition facility, supported by operating cash flow. According to IMG, completion of the transaction is not expected before February 28, 2026.
IMG Expands New Zealand Security Operations
Managing Director Dennison Hambling said the acquisition marked a significant step for the group.
“This is a unique opportunity to materially enhance our commercial footprint in New Zealand by way of a broad, significant and historic leading service provider,” Hambling said.
“This acquisition not only adds a very stable business with a strong recurring revenue base but will allow us to introduce our leading security products to commercial NZ in a significantly enhanced and more rapid fashion, as we have been seeking to do in Australia. Having been part of the JCI stable, like ADT, these businesses are well known to each other and will entail little disruption on a change of ownership.
“This acquisition is another significant, accretive step forward in building IMG into a serious industrial company with significant profitability, a strong balance sheet and material growth prospects across Australasia.”
Following completion, IMG expects pro forma consolidated annualised revenue of approximately $A318 million and EBITDA in the range of $53 million to $57 million, based on guidance provided at the company’s 2025 AGM. This equates to a pro forma earnings per share uplift of between 24.6 and 28.3 per cent compared with the lower end of IMG’s previous guidance range.
You can learn more about Tyco NZ here, discover Red Wolf here, learn about IMG here or read more SEN news here.
“IMG Expands New Zealand Security Operations With $NZ45 Million Purchase Of Tyco NZ And Red Wolf.”
