Intelligent Monitoring Group Ltd (ASX:IMB) joins Jonathan Jackson in the Proactive studio to discuss binding agreements to acquire Everjazz Pty Limited (Alarm Assets Group or AAG) and ACG Integration Pty Ltd (ACG) for a total of $15.9 million. These acquisitions are anticipated to add $5.7 million to FY24 proforma EBITDA, at an EV/EBITDA multiple of 2.8x. The acquisitions will bring more than 35 skilled technicians and expand IMG’s national coverage, enhancing capacity for growth in its commercial business. The client bases of AAG and ACG include ASX 100 companies and large government clients. To fund the acquisitions, IMG will issue approximately 60.4 million new shares at $0.32 each, raising about $19.3 million. This represents a 7.2% discount to the last closing price and a 0.4% discount to the 10-day volume-weighted average price. The proceeds will cover acquisition costs, transaction expenses and working capital requirements. Completion of the acquisitions is subject to various conditions, including financier approval, and is targeted for June 30, 2024. Hambling highlighted the acquisitions as strategic additions to ADT’s business, projecting a revenue run rate increase to $12 million annually by June 2024, with further growth anticipated.
Intelligent Monitoring Group announces strategic acquisitions of AAG and ACG
