Intelligent Monitoring Group Limited has completed the acquisition of Western Advance Pty Ltd, initially announced in August.
WAPL is a long-standing and leading provider of security services in Western Australia, and in particular, in the Oil and Gas space, operating for more than 30 years. IMG has paid $4.5 million cash for the Acquisition, subject to customary adjustments for working capital, cash and debt amounts, funded from working capital cash flows, and is expected to be immediately earnings accretive.
In announcing the Acquisition, IMG Managing Director Dennison Hambling said:
“This acquisition represents another step in IMG’s strategy, through ADT, to strategically expand its operating footprint in Western Australia, further strengthening our national platform for the business in Commercial and Enterprise, and further consolidating other complementary acquisitions over the past 12 months. In particular, WAPL has a long term, significant reputation in the Oil & Gas industry, in addition to its other valued security customers, broadening the Company’s capability.
WAPL joins the recent acquisitions of ACG, AAG, DVL and KOBE completed over the last 12 months, to present a formidable base from which to continue to grow.”
