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Monitored security and IoT solutions provider Intelligent Monitoring Group (ASX: IMB) is expanding its national footprint in the security guarding sector through the acquisition of Sydney-based BNP Securities for $4.2 million.
Intelligent Monitoring is acquiring the business through its ADT Security Group subsidiary, a move that it says will provide a “strong platform” to pursue an industry-wide rollout of the company's ADT Guard video strategy into a sector of the market that is currently dominated by “physical manpower”.
The acquisition is expected to be immediately earnings accretive, generating a pro forma annualised EBITDA of $1.4 million which Intelligent Monitoring says puts the multiple of the deal in line with previous acquisitions.
“This acquisition is an important step in commercialising and accelerating IMG’s Live Video Monitoring services,” says Intelligent Monitoring Group’s managing director Dennison Hambling.
“Customers of all sizes, who have adopted this product, have seen a significant - in some cases up to 50 per cent - cost reduction in the cost of physical security provision and experienced far improved deterrence and apprehension outcomes.
“We want to use our ADT Guard products and division to accelerate making Australian and New Zealand safer, and BNP will give us a good initial scale to showcase to a wider audience, what we can do.”
Established in 1993, BNP Securities provides traditional security manpower solutions, including guards, patrols and alarm response, for government, industrial, retail and other commercial customers, largely in NSW.
The Perth-based Intelligent Monitoring says BNP has a “long-term, significant, high-quality reputation” in the traditional manpower and patrol-based security services sector, which will complement the group’s “modern, lower-cost, higher-quality video solutions”.
The deal for BNP Securities comes a month after Intelligent Monitoring Group acquired Perth-based electronic security and surveillance company Western Advance for $4.5 million.
Western Advance, which has been in business for more than 30 years, is a specialist in the oil and gas sector in Western Australia.
Intelligent Monitoring Group, which provides monitored security and IoT (Internet of Things) solutions for businesses, homes and individuals, has operations in all six Australian states as well as New Zealand.
The company, which boosted revenue by 43.6 per cent to $174.9 million in FY25, posted a $17.3 million bottom-line loss for the year, although adjusted EBITDA rose 19.3 per cent to $38.37 million.
The acquisition of BNP Security is expected to be finalised today.
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