Intelligent Monitoring Group (IMG), through its wholly-owned subsidiary ADT Security Limited New Zealand, has entered into a binding agreement to acquire approximately 3,100 security customers of “Securely,” the brand name of Electra Services Limited, a full subsidiary of Electra Group.
IMG’s acquisition of Securely is part of Electra’s strategy to shift its focus away from security operations in New Zealand and emphasise its core business. The opportunity to acquire Securely was presented immediately after IMG’s ADT purchase and received strong endorsement from local ADT New Zealand management.
Led by Alison Kingdon, ADT’s New Zealand team operates independently in New Zealand. Transitioning Securely’s customers to ADT’s Onehunga control room is scheduled to be completed by December 2023.
Since closing the ADT Security acquisition on August 1, IMG has received positive feedback from both employees and clients regarding the acquisition, which brings ADT back to local market leadership during a crucial period where the security and oversight of assets and individuals are of utmost importance.
The ADT teams in Australia and New Zealand, led by Geoff Campbell Brown and Alison Kingdon respectively, have initiated improvements on product offerings and started transitioning from the previous owners’ systems and processes. IMG, inclusive of ADT, traded above the anticipated levels set in the acquisition model for August with the performance of IMS (IMG’s business before acquiring ADT) having surpassed target levels, positioning it in line with the $6m EBITDA goal stated during the ADT acquisition.
Dennison Hambling said, “We are excited about what the future holds and are working to lift our service levels, and providing value for all our customers, be they dealer or direct, in order to grow and broaden the security offering to world-class levels. We have an exciting 12 months in front of us and look forward to updating the market on progress at our AGM in October, to be held at 2pm on Thursday 26th October, Rydalmere, New South Wales.”
Following its first eight weeks of ADT Security ownership in Australia and New Zealand, ADT’s integration progress remains on track, with IMG set to achieve its profitability forecast ($31m annualised EBITDA) declared during the ADT acquisition.
