Tyco and Red Wolf change hands in $45m transaction

Tyco and Red Wolf change hands in $45m transaction
Tyco has a headquarters in Auckland's Onehunga. (Image: NZME)
Victoria Young
ASX-listed Intelligent Monitoring Group has agreed to buy Tyco NZ and Red Wolf for $45 million.Fire protection services company Tyco NZ and security provider Red Wolf are currently ultimately owned by New York-listed Johnson Controls International.Intelligent Monitoring Group said in a statement it expected pro forma revenue from the transaction of $89.5m and earnings before interest, tax, depreciation and amortisation of $10.9m.Tyco NZ has 12 branches and more than 300 staff in NZ, while Red Wolf has a strong government presence.An investor pr...