Intelligent Monitoring Group (IMG) has announced its subsidiary ADT has entered binding agreements to acquire security systems firms Alarm Assets Group and ACG Integration.
The acquisitions worth a total of $15.9 million will see IMG add more than 35 employees to "unlock capacity for continued growth in IMG's commercial business, which has been supplier constrained," the company said in an ASX statement.
IMG said Alarm Assets Group will allow ADT to create a stronger presence in Western Australia, while ACG has the potential to expand ADT's network in the commercial sector.
Perth-based Alarm Assets Group offers security solutions for businesses including access controls, CCTV systems and 24-hour alarm monitoring.
Established in 1998, Sydney-headquartered ACG provides automated control systems, integrated security, access control, IP CCTV, building automation, intercoms, locking systems, occupancy analytics, network infrastructure and safety solutions.
IMG said the companies have blue-chip clients that include ASX 100 companies as well as large government and infrastructure clients with long-term service contracts.
"These acquisitions are highly beneficial and timely additions to the ADT business in Australia," said IMG's managing director Dennison Hambling.
"Having already lifted ADT's commercial business from $2 million revenue in the year prior to IMG's acquisition of ADT to a run rate of $12 million [per annum] by the end of June 2024, the addition of these quality business, customers and people will help unlock ADT's commercial business further as it seeks to return to its historical levels of $125 million revenue and beyond."
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