Deal will reaffirm Fidelity’s current position as a leading integrated security solutions provider in Southern Africa
Johannesburg, 18 August, 2016 – Fidelity Security Group, Southern Africa’s leading integrated security solutions provider, today announces that it has signed definitive agreements to acquire ADT South Africa from Tyco (NYSE: TYC). This follows the successful acquisition of the Bidvest Protea Coin Cash Management Solutions business from The Bidvest Group (JSE: BVT) in January 2015, which has provided significant diversity in its service offering and related profitability.
ADT is a leading armed response company and security technology provider of advanced security solutions. The company provides central monitoring services including video surveillance and dispatch, armed response, access control and other security-related services to more than 365,000 residential, small-to-medium sized enterprises and larger commercial customers. The business provides centralised security monitoring services, including the dispatch of armed response guards, fire detection and protection, access control as well as other security-related services, through a nationwide network that includes 26 branch locations and approximately 9,700 employees.The addition of ADT to the Fidelity Security Group’s portfolio will significantly boost the Group’s armed response and security technology offering. It also affirms Fidelity Security Group’s, a 100% South African, 54.62% black owned company and BBBEE Level One Contributor, current position as the leading black empowered integrated security solutions provider in Southern Africa.
“We are exceptionally proud to announce the successful execution of definitive agreements to acquire ADT South Africa. The acquisition, once completed and after all relevant approvals are obtained, will allow Fidelity Security Group to enhance its position as the leading provider of both residential and commercial integrated security solutions in Southern Africa. The acquisition also allows us to add an exceptionally strong team with deep industry knowledge and experience to our current portfolio,” says Wahl Bartmann, Fidelity Security Group’s CEO. After the acquisition, ADT will retain its name and will operate as Fidelity ADT, a subsidiary of Fidelity Security Group.
Fidelity Security Group will have over 168 points of presence across Southern Africa and support around 57,000 employees, following the acquisition.
“As a passionately South African company, ADT is extremely excited about the opportunities that the sale to Fidelity Security Group presents for our future, as well as for our customers and employees,” says Stuart Clarkson, CEO of ADT.
“Not only does Fidelity bring a wealth of diversified experience and knowledge but the association also provides us with the capacity to provide our customers with a more integrated, proactive and robust security and proactive guarding service. Where many guarding companies only respond to crime incidents, Fidelity works to proactively mitigate crime in the communities in which it operates, and that is a very exciting proposition,” says Clarkson.
Fidelity ADT will act as a local distributor for Tyco’s residential and commercial security products and specialised performance solutions for retail businesses, including the electronic article surveillance Sensormatic range of products. Tyco will also continue to provide its fire, security and life safety products to the South African market.
The acquisition is subject to regulatory approvals, including approval from the Competition Authorities.
ABOUT FIDELITY SECURITY GROUP
Fidelity Security Group (Fidelity) is Southern Africa’s leading integrated security solutions provider and the industry leader in protection innovation. Fidelity offers a vast range of security services (Guarding, Cash Solutions and Integrated Armed Response) and related products and has around 47,000 employees across 142 integrated points of presence throughout Southern Africa. Fidelity remains well positioned to add value to all its customers, which includes many of the top listed companies, state owned companies and multinational conglomerates. For more information, visit www.fidelitysecurity.co.za.
Tyco (NYSE: TYC) is the world’s largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. Tyco has over 57,000 employees in more than 900 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit www.tyco.com.
Fidelity Security Group CEO
Tel: +27 11 763 9333
Fidelity Security Group Financial Director
Tel: +27 11 763 9021
Fidelity media contact:
Tel: +27 11 763 9045