Intelligent Monitoring Group Limited (ASX:IMB) Completes Acquisition of Western Advance Pty Ltd
Acquisition Details
Intelligent Monitoring Group Limited (IMG) has completed the acquisition of Western Advance Pty Ltd (WAPL) for $4.5 million in cash, subject to customary adjustments. The acquisition is expected to be immediately earnings accretive.
Company Strategy
WAPL, a leading security services provider in Western Australia’s Oil and Gas sector with over 30 years of experience, enhances IMG’s operational footprint. This acquisition follows recent acquisitions of ACG, AAG, DVL, and KOBE in the past 12 months, strengthening IMG’s national platform in the Commercial and Enterprise sectors.
Executive Comments
Managing Director Dennison Hambling stated, “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.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Intelligent Monitoring Group. The Motley Fool Australia has recommended Intelligent Monitoring Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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