Intelligent Monitoring Group Enhances Security Offering Through Acquisitions

Intelligent Monitoring Group Ltd (IMG) (ASX: IMB) is enhancing its security services offering by acquiring two sperate businesses, AAG and ACG.

AAG (Alarm Assets Group) is a security services provider principally based in Western Australia, while ACG is a national security services provider.

Both AAG and ACG have a skilled and focused team of technicians and provide a wide range of security products and services.

IMG will pay an aggregate of A$15.9 million in cash consideration for the acquisitions.

Highly accretive

IMG, via its subsidiary ADT Security Group, is targeting completion of the acquisitions to occur prior to 30 June 2024.

IMG Managing Director Dennison Hambling said: “These acquisitions are highly beneficial and timely additions to the ADT business in Australia.

 “Having already lifted ADT’s commercial business from $2m revenue in the year prior to IMG’s acquisition of ADT to a run rate of $12m p.a. by the end of June 2024, the addition of these quality businesses, customers, and people will help unlock ADT’s commercial business further as it seeks to return to its historical levels of $125m revenue and beyond.”

A$19.3M placement

IMG has successfully completed a placement of shares worth ~A$19.3 million to eligible institutional and sophisticated investors.

The proceeds will be used to fund the acquisitions, and associated transaction costs and working capital requirements.

Adeva acquisition

Hambling said that IMG looks forward to bringing the new acquisitions into its operations, along with the recently acquired Adeva business (trading as Signature Security).

Read: Intelligent Monitoring To Bring Back Signature Security Brand Via Acquisition

IMG’s acquisition of Adeva is aimed at bringing the iconic ‘Signature Security’ business back to life in Australia.

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).

Adeva acquired Signature for A$171 million in 2011.

Watch: Intelligent Monitoring Group MD Dennison Hambling Talks JustStocks Video Through Acquisition of Adeva Home Solutions

 

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