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HomeAlarmsIMG Relaunches Signature Security

IMG Relaunches Signature Security

IMG Relaunches Signature Security - Intelligent Monitoring Group will relaunch Signature Security Group after entering into a binding sale and purchase agreement to acquire 100 per cent of Adeva Home Solutions for $A2.5 million.

IMG Relaunches Signature Security After Aveda Acquisition.

IMG Relaunches Signature Security – Intelligent Monitoring Group will relaunch Signature Security Group after entering into a binding sale and purchase agreement to acquire 100 per cent of Adeva Home Solutions for $A2.5 million.

Adeva is a national security provider with a highly focused team of 40 technicians that offers a wide range of intelligent products and services, including access control barriers, CCTV recording, innovative alarm systems, business intercoms and integrated solutions.

Simultaneously, IMG will re-birth the historic and significant Signature Security brand, which will comprise the business units of IMG subsidiary Mammoth Security and Aveda. The founders of Adeva will become general managers of Signature Security.

IMG Relaunches Signature Security
IMG Relaunches Signature Security

The Adeva vendors will be entitled to an earn out amount equal to 12.6 per cenbt of 3.5x the EBITDA of the Signature Security group in excess of $3.8m for the financial year ending 30 June 2027, subject to the Adeva founders remaining shareholders of Mammoth Security as at 30 June 2027.

Signature Security will be run as a largely stand-alone business within the IMG group with Dennison Hambling (IMG MD) and Peter Kennan (IMG chair) sitting on the board, alongside the Adeva founders.

At one time Signature was nearly the largest end-to-end security business for residential and small businesses in Australia (with nearly 100,000 customers).  

According to IMG managing director Dennis Hambling, the new Signature Security will immediately become the second largest bureau customer of IMG’s IMS monitoring business behind Advanced Inland Group. IMS is a Patriot-based A1 graded security monitoring service operating 2 control rooms for complete redundancy.

“Bringing the Signature Security brand back to life is an exciting moment for IMG and ADT, which acquired Signature for $171m in 2011, as well as for many of our staff who came from the Signature Security acquisition originally,” Hambling said.

“Putting the existing Mammoth customers, with IMS’s 2 Patriot control rooms, which will enable more value-added solutions–such as video guarding and verification, into the hands of Adam, Evan and their technicians is a very exciting development, and will create a further growth platform for IMG in-demand security services.”

The Aveda sale is based on $0.5m cash and $2m in shares in IMG subsidiary Mammoth Security to Adeva founders, Adam Woolston and Evan Comb, plus a potential earn out. The earn out and shareholding in Mammoth Security is intended to align the Adeva founders to the future success of the business.

The acquisition is expected to add $9m revenue and $0.8m EBITDA to the IMG group in FY25, representing a purchase value of 2.8x pro forma FY24 Adeva EBITDA. Note this acquisition remains subject to the usual purchase conditions.

You can learn more about Intelligent Monitoring Group here or read more SEN news here.

“IMG Relaunches Signature Security After Aveda Acquisition.”

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AUTHOR

John Adams
John Adamshttps://sen.news
A professional writer and editor who has been covering the security industry since 1991, John is passionate about clever applications of technology and the fusion of sensing and networking. A capable photographer John enjoys undertaking practical reviews of the latest electronic security systems.

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