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Fidelity locks down ADT acquisition

Companies
Cape Town – Fidelity Security Group on Thursday said it had concluded its R2 billion acquisition of ADT South Africa from New York-listed Tyco, creating a powerful majority black-owned Southern African integrated security solutions provider.

The deal, approved by the Competition Tribunal on March 8, creates a new entity, Fidelity ADT, a 100 percent South African, 54.62 percent black-owned company and B-BBEE level one contributor.

The transaction encompasses all of ADT South Africa's residential and commercial services and operations and the ADT Kusela guarding business.

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Wahl Bartmann, Fidelity Security Group’s chief executive officer, said there were obvious benefits for customers of both companies PHOTO Provided

The new entity has 168 points of presence across Southern Africa, around 57 000 employees and a fleet of 4 574 vehicles.

"The merger brings together two strong teams with deep industry knowledge and experience, and positions Fidelity ADT as the leading provider of both residential and commercial integrated security solutions in Southern Africa," said Wahl Bartmann, Fidelity Security Group's chief executive.

Bartmann said combining ADT's armed response expertise and footprint in the residential market and security technology solutions with Fidelity's capabilities in the guarding, cash solutions and integrated armed response sectors created a "security firm perfectly aligned for future growth in the Southern African market".

He added there were obvious benefits for customers of both companies.

Read also: Fidelity set to buy ADT SA

He said Fidelity brought the capacity to provide ADT's 365 000 residential, small-to-medium sized enterprises and larger commercial customers with "a more integrated, proactive and robust security and guarding service in a localised community driven environment".

He said, while many security companies responded only to crime, Fidelity worked to mitigate crime in the communities in which it operated.

He said Fidelity's helicopter support and canine units provided extra levels of support to teams in the field and allowed for provision of services in higher risk areas.

Bartmann said ADT provided Fidelity's customers with security technology solutions, such as central monitoring services, video surveillance and dispatch, and access control.

The statement added that the deal would allow for the expansion of ADT's fire detection and suppression solutions, an area of specialisation at the firm.

AFRICAN NEWS AGENCY

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