Australia's Five V buys security alarm connectivity business
Australia’s Five V Capital has acquired a majority position in Permaconn, a locally based equipment supplier for the security alarm and smart home markets.
The size of the transaction was not disclosed. Five V is investing via its fourth flagship Australasia fund, which closed on AUD 550m (USD 370m) in 2021 and typically deploys in a range of AUD 30m-AUD 100m per transaction. The GP will retain the existing management team.
Founded in 1999, Permaconn claims to be a global leader in professionally monitored alarm connectivity. Its product suite – which includes various internet routers, transceivers, WiFi devices, and communication modules – facilitated more than 1.9m alarm signals a day between protected premises and security companies as of March last year.
Permaconn claims its technology works across all internet protocol connection systems and digital mobile networks, from 2G, 3G, and 4G to the latest dedicated internet-of-things (IoT) networks. It is active in the residential, commercial, and retail alarm markets across Australia, New Zealand, South Africa, and Papua New Guinea. This includes the video alarm and smart home IoT markets.
Information security is a priority, with Permaconn claiming its core network is “cyber-hardened” and that its staff, contractors, and intermediaries must clear unspecified security thresholds to work with the company. To this end, part of the offering to customers also includes a scalable managed virtual private network (VPN) service.
Recent product launches include “Virtual Patrol,” a remotely monitorable security video system that allows footage to be shared via app. Tim Cooper, an investor at Five V, described the company’s business metrics as “remarkable,” in a statement. Five V said its investment would support organic and acquisitive growth.
This is the sixth deal from Five V’s fourth fund. At least two other Australia-based companies in the portfolio are directly involved in systems networking and device connectivity.
In January last year, Fund IV acquired a 30% stake in Mantel Group, an IT consulting business focused on cloud and data platforms and related security. The following July, it took a majority stake in 4Cabling, a retailer of IT-related cabling, server racks, and device connectivity hardware.
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