ISS applies for clearance to acquire part of Chubb

Media Release
Issued 02 October 2008/no 42

First Security parent company ISS applies for clearance to acquire part of Chubb

The Commerce Commission has received an application from ISS Holdings NZ Limited (ISS) seeking clearance to acquire a portion of the manned (static and mobile) guarding business of Chubb New Zealand Limited (Chubb).

Static guarding is the stationing of a guard at a customer’s premises. Mobile guarding or patrol is the dispatch of a security guard to a residential address or commercial premises (either at pre-specified times or in response to an alarm).

ISS is a wholly owned subsidiary of ISS Global A/S, a company incorporated in Denmark. ISS carries out a manned (static and mobile) guarding business via a wholly-owned subsidiary, First Security Guard Services Limited.

Chubb is ultimately owned by UTC Fire & Security, United Technologies Corp. It provides a wide range of services including manned (static and mobile) guarding services, installation of electronic security systems, cash handling and 24x7 electronic alarm monitoring services.

In considering the application, the Commission’s role is to determine whether the acquisition has the effect of substantially lessening competition in a market.

A public version of the application is available on the Commission’s website www.comcom.govt.nz under Public Registers.

ENDS

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