ADT Security is set to expand in the Australian and New Zealand security industry with Tyco International’s acquisition of OCP’s Signature Security Group.
Tyco International Ltd. and Oceania Capital Partners Limited have announced an agreement for Tyco to acquire OCP’s Signature Security Group with the transaction expected to close during the third quarter of Tyco’s fiscal year.
Tyco intends to combine Signature Security’s Australian and New Zealand operations with its ADT Security business under the ADT Security name.
Signature Security is a leading provider of electronic security services in Australia and New Zealand, specialising in security installation and monitoring services for more than 90,000 premises, with annualised revenue of approximately AU $80 million.
ADT Security is part of Tyco’s security solutions business and one of the world's largest electronic security solutions providers with approximately 9 million customers around the world and annual revenue of more than US $7.7 billion.
ADT Security’s products include alarm systems and integrated security applications that link access control, CCTV, electronic article surveillance and source tagging systems.
Tyco is a leading provider of security products and services, fire protection and detection products, valves and controls as well as various industrial products.
According to Ed Breen, Tyco Chairman and Chief Executive Officer, the acquisition provides them with the opportunity to strengthen ADT’s business in the Australian and New Zealand security markets while advancing their strategy for growth in the global security industry.
He adds that Signature Security is an excellent strategic fit with their ADT business, providing them with increased scale and attractive operating synergies that will make the transaction quickly accretive.
Mark Norton, Managing Director, ADT Security, Australia comments that the Signature Security acquisition is ADT Security’s most significant transaction in Australia in many years and supports a vision for long-term growth in a fragmented and highly competitive industry.
He adds that the Signature acquisition will broaden ADT’s sales, installation and service capabilities.