New company Optic Security Group to provide integrated physical and digital security solutions
Announcement posted by Filtered Media | telling your story, brilliantly 04 Dec 2018
Merger consolidates six leading trans-Tasman security companies under one umbrella
Sydney, 4 December 2018 – Optic Security Group has launched today to become Australia and New Zealand’s largest independent and most technically advanced physical, IT and information security group.
Following a merger of six entities with combined revenues in excess of A$100 million, the new company will operate across ANZ and bring together the combined capability and expertise of industry-leading security businesses.
The newly formed entity brings together Australian-based companies Securities and Security & Technology Services and Bemac, and leading New Zealand-based physical security company Fortlock, that recently acquired IT experts Comsmart, Circuit Systems and SSL.
The group members were carefully selected over a 12-month period to ensure complementary capabilities in respect of geographic coverage and industry expertise. The selected companies’ market reputations and strategic aspirations are also aligned to deliver clients a fully converged IT security proposition – a globally emerging trend that is driving industry growth by over 10%.
Optic Security will be led by Group CEO, Jason Cherrington, who says we are all living in a more connected world, where organisations are operating in an environment with increasing security demands, more volatility and more complexity.
“Safeguarding people, information and technology has become much more complex and this rapidly changing risk profile is making the need to protect critical infrastructure against both physical and digital threats an absolute imperative,” said Cherrington.
“The formation of the Optic Security Group will enable us to meet the needs of customers as converging security requirements grow and become more complex, be they physical or digital. These threats are now exposing Directors to a complex liability that if not mitigated successfully lead to significant financial, criminal and brand damaging outcomes that Boards have to be fully aware of, and then protected against. That’s our purpose.
“We also had a particularly clear vision to create a trans-Tasman capability that has full geographic coverage across both markets and depth in technical and industry expertise to tackle these emerging challenges and deliver appropriate solutions to our customers – now achievable with a scale presence in both Australia and New Zealand,” added Cherrington.
Optic Security Group will bring unparalleled resource capability across both countries and is well positioned to make an immediate impact with over 200 employees across 10 different locations serving the needs of close to 1,000 existing customers.
The new company will be led by a senior leadership team that has a wealth of international experience and sector expertise that will ensure customers have access to the best resources and latest leading technologies from around the world. There will be no change in the management at a business unit level within each of the six respective business units (all significant shareholders in Optic) and the group provides a wealth of career growth opportunities for the employees of Optic.
“The new company will immediately be able to provide additional services to the existing customers of the companies under the Optic Security umbrella. The company will also partner with other leading players in the market such as the Cyber Audit team in Australia who provide independent information security and cybersecurity assessment,” said Cherrington.
Chris Giufre, Managing Director of New Zealand investment firm Ascentro Capital Partners, co-founded the Optic Security Group with Jason Cherrington. Both founders will join the existing shareholders of the six businesses on the Optic shareholder register and become members of the Board.
KPMG New Zealand provided M&A and transactions services advisory to lead the execution of the transaction; Mayne Wetherell and Gilbert Tobin providing legal services, and BNZ, ASB and Arena Investors LP supporting Optic Security Group from a financing perspective.
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About Optic Security Group
Optic Security Group is a leading provider of business critical, integrated security solutions. We meet the needs of customers as converging security requirements grow and become more complex, be they physical or digital. We provide customers throughout Australia and New Zealand with in-depth technical and industry expertise to tackle all emerging challenges and deliver appropriate solutions. Optic Security Group employs over 200 people across 18 different locations meeting the needs of close to 1,000 customers.
For more information contact:
Jason Cherrington
CEO, Optic Security Group
Email: jason.cherrington@opticsecuritygroup.com
Phone: + 64 21 781 389
Following a merger of six entities with combined revenues in excess of A$100 million, the new company will operate across ANZ and bring together the combined capability and expertise of industry-leading security businesses.
The newly formed entity brings together Australian-based companies Securities and Security & Technology Services and Bemac, and leading New Zealand-based physical security company Fortlock, that recently acquired IT experts Comsmart, Circuit Systems and SSL.
The group members were carefully selected over a 12-month period to ensure complementary capabilities in respect of geographic coverage and industry expertise. The selected companies’ market reputations and strategic aspirations are also aligned to deliver clients a fully converged IT security proposition – a globally emerging trend that is driving industry growth by over 10%.
Optic Security will be led by Group CEO, Jason Cherrington, who says we are all living in a more connected world, where organisations are operating in an environment with increasing security demands, more volatility and more complexity.
“Safeguarding people, information and technology has become much more complex and this rapidly changing risk profile is making the need to protect critical infrastructure against both physical and digital threats an absolute imperative,” said Cherrington.
“The formation of the Optic Security Group will enable us to meet the needs of customers as converging security requirements grow and become more complex, be they physical or digital. These threats are now exposing Directors to a complex liability that if not mitigated successfully lead to significant financial, criminal and brand damaging outcomes that Boards have to be fully aware of, and then protected against. That’s our purpose.
“We also had a particularly clear vision to create a trans-Tasman capability that has full geographic coverage across both markets and depth in technical and industry expertise to tackle these emerging challenges and deliver appropriate solutions to our customers – now achievable with a scale presence in both Australia and New Zealand,” added Cherrington.
Optic Security Group will bring unparalleled resource capability across both countries and is well positioned to make an immediate impact with over 200 employees across 10 different locations serving the needs of close to 1,000 existing customers.
The new company will be led by a senior leadership team that has a wealth of international experience and sector expertise that will ensure customers have access to the best resources and latest leading technologies from around the world. There will be no change in the management at a business unit level within each of the six respective business units (all significant shareholders in Optic) and the group provides a wealth of career growth opportunities for the employees of Optic.
“The new company will immediately be able to provide additional services to the existing customers of the companies under the Optic Security umbrella. The company will also partner with other leading players in the market such as the Cyber Audit team in Australia who provide independent information security and cybersecurity assessment,” said Cherrington.
Chris Giufre, Managing Director of New Zealand investment firm Ascentro Capital Partners, co-founded the Optic Security Group with Jason Cherrington. Both founders will join the existing shareholders of the six businesses on the Optic shareholder register and become members of the Board.
KPMG New Zealand provided M&A and transactions services advisory to lead the execution of the transaction; Mayne Wetherell and Gilbert Tobin providing legal services, and BNZ, ASB and Arena Investors LP supporting Optic Security Group from a financing perspective.
<<Ends>>
About Optic Security Group
Optic Security Group is a leading provider of business critical, integrated security solutions. We meet the needs of customers as converging security requirements grow and become more complex, be they physical or digital. We provide customers throughout Australia and New Zealand with in-depth technical and industry expertise to tackle all emerging challenges and deliver appropriate solutions. Optic Security Group employs over 200 people across 18 different locations meeting the needs of close to 1,000 customers.
For more information contact:
Jason Cherrington
CEO, Optic Security Group
Email: jason.cherrington@opticsecuritygroup.com
Phone: + 64 21 781 389