First Security Parent Company ISS Applies for Clearance to Acquire Part of Chubb

(LAWFUEL) – 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 24×7 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.

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