Threat in east coast purchases

Perth-based security services provider Threat Protect has expanded its customer base on the east coast with the $2.4 million purchase of two NSW security monitoring businesses.

The purchase of Alpha Alarms and Seekers Security Management is expected to add more than 2,100 customers in NSW, Victoria and Queensland.

The acquisitions increase the number of direct lines monitored by Threat Protect by 30 per cent to around 8,200.

The company will pay $2.4 million up front, with the remaining $300,000 balance to be paid 12 months post completion.

Managing director Demetrios Pynes said it was an exciting purchase for the company.

“The acquisition of these two companies continues our growth strategy building on our initial entry into NSW in 2016,” he said

“While retaining focus on our existing operations, we will continue to pursue various acquisition opportunities in a disciplined manner where they make strategic sense and add value.”

Threat shares finished up 2 per cent at 19.5 cents.