Intelligent Monitoring Group Limited (ASX: IMB) has announced a definitive agreement to acquire all shares of BNP Securities Pty Ltd for $4.2 million in cash, subject to customary adjustments. Intelligent Monitoring Group provides security monitoring services and is based in Australia. The acquisition, conducted through IMG’s subsidiary ADT Security Group Pty Ltd on behalf of its new ADT Guard division, is expected to be immediately earnings accretive.
BNP Securities, established in 1993, is a leading supplier of traditional security manpower solutions, including guards, patrols, and alarm response, primarily in New South Wales. The company services government, industrial, retail, and other commercial clients. The acquisition is anticipated to generate a pro forma annualised EBITDA of $1.4 million, aligning with IMG’s prior acquisitions.
According to IMG, this acquisition will strategically expand ADT’s Australian operating footprint into the significant security guarding market. BNP will provide ADT Guard with a robust platform to pursue an industry-wide rollout of IMG’s ADT Guard video strategy, targeting an area currently dominated by physical manpower. IMG believes BNP’s reputation as a provider of traditional manpower and patrol-based security services will complement IMG’s modern, lower-cost, video solutions.
IMG Managing Director Dennison Hambling stated that the acquisition is an important step in commercialising and accelerating IMG’s Live Video Monitoring services. He added that ADT Guard aims to accelerate making Australia and New Zealand safer, and BNP will provide the scale to showcase the company’s capabilities. Hambling hosted a Teams call today to discuss the acquisition.
