OmniSecur buys ADL Security, taps WAD Capital executive to run integration
What's the deal? OmniSecur Group has acquired ADL Security SRL, a Walloon Brabant security installer, in a deal announced in November 2026 for an undisclosed sum. It is the second acquisition for the WAD CapitalDealroom has a profile for this one. Try Dealroom →-backed platform, which was set up in 2025 to consolidate Belgium's fragmented physical security and safety market.
Who does what? ADL has secured industrial, commercial and private properties in Braine-l'Alleud since 1984. With the deal, OmniSecur now offers end-to-end electronic security, spanning intrusion detection, CCTV, access control, fire detection and monitoring.
The key hire: Alvaro Novoa will lead ADL's post-acquisition strategy, bringing more than 12 years of experience. The move frees up OmniSecur chief executive and WAD CEO-in-Residence Steven Bourgeois to focus on the wider group.
Why now? WAD argues that tightening fire safety and security compliance rules across Belgium create steady demand for accredited installers — demand "a consolidated group can serve at scale where individual owner-operated firms cannot."
What's the endgame? WAD's buy-and-build thesis rests on a valuation gap: at €200,000 EBITDA, the average European acquisition multiple is roughly 3.9x, rising to 7.2x at €10 million EBITDA. The firm uses a search fund model in which each deal is led by a pre-selected CEO-in-Residence who sources, buys and runs an SME within 300 kilometres of Brussels.
Bourgeois took over OmniSecur's first platform, AlsecDealroom has a profile for this one. Try Dealroom →, in November 2025 through an SME succession. Each CEO-in-Residence gets up to €500,000 in search capital, after which WAD typically commits €1 million to €2 million of equity per deal, with a senior lender and a co-investor such as Wallonie Entreprendre completing the financing.
What's next? WAD Capital's Fund I reached a €67.5 million first close in mid-2026, with the European Investment Fund its largest backer at €25 million under InvestEU. The firm is targeting €130 million and plans to grow its roster of CEOs-in-Residence from 13 to 25 — pointing to further acquisitions ahead.
The signal: The ADL deal is less a market-moving transaction than early proof of OmniSecur's buy-and-build push, reflecting a broader European trend of rolling up local security providers into integrated groups spanning alarms, CCTV, access control and fire safety.
Read more: manda.be
Image credit: KOMUnews
