REG - Croma Sec. Sol. Grp - Acquisition

Croma Security SolutionsAnnouncement

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RNS Number : 5461N  Croma Security Solutions Group PLC  05 January 2026

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5(th) January 2026

Croma Security Solutions Group Plc

("CSSG", "Croma", "the "Company" or the "Group")

Acquisition of TLS

Croma Security Solutions Group plc (AIM:CSSG), the AIM listed innovation and
service-focused security solutions provider, is pleased to announce that it
has completed the acquisition of TLS Security Systems Limited ("TLS"), a
family owned and operated business, located in Taunton, Somerset, providing
specialist locksmith and access control services.

The total consideration for the acquisition of TLS, subject to adjustments for
cash, debt and working capital at completion, is £0.47 million, comprising an
initial payment of £0.28 million and a deferred balance of £0.19 million,
payable subject to the achievement of earnout targets over the 12 months
following completion.

In addition, the Company has also acquired the freehold retail property in
Taunton, TLS's sole trading outlet, for a cash consideration of £0.20 million
from the vendors' SIPP. Both the acquisition of TLS and the property completed
on 2 January 2026 will be funded from our existing strong cash reserves that
now also include the latest £0.43 million instalment received on 31 December
2025 in respect of the outstanding Vigilant consideration.

Originally formed in 1991 as locksmith and safe engineers, TLS has since
broadened its expertise into electronic access control, CCTV, door automation
and UPVC door repairs. TLS derives around 80% of its turnover from commercial
customers, led by local authorities and healthcare-sector operators, with the
balance generated from the retail market in Taunton and the surrounding region
having built a strong reputation amongst the community over the past 34 years.

For the year to 31 March 2025, TLS generated revenues of £0.94 million and
EBITDA of £0.11 million and had a net asset value of £0.36 million.

The acquisition of TLS is strategically aligned with Croma's continued UK
expansion, increasing the number of security centres to 17. From its
headquarters in Southampton, the Group's network continues to extend
geographically, with the addition of Taunton strengthening its coverage in the
west and establishes Croma's first operational presence in Somerset.

Three of the owner operator vendors of TLS will remain with the business
during the earnout period to ensure a smooth transition.

Roberto Fiorentino, Chief Executive Officer, commented: "We are delighted to
welcome TLS Security Systems to the Croma Group. TLS is a well-established
business with a strong regional presence, long-standing client relationships,
and a high calibre of technical expertise. Its combination of locksmith
services and electronic security capabilities aligns closely with the Group's
integrated security offering. The acquisition strengthens our footprint in the
South-West, creates natural operational synergies, and enhances our ability to
deliver comprehensive, high-quality security solutions to both commercial and
retail customers.

Richard Bond, Managing Director of TLS Security Systems, said: "Over three
decades we have built a business with a strong reputation for technical
expertise and customer service. Partnering with Croma gives us the scale,
resources, and operational support needed to take that to the next level. I
look forward to working closely with Roberto and the Croma team over the next
12 months."

 

 

For further information visit www.cssgplc.com or contact:

 

Croma Security Solutions Group
Plc
            Tel: +44 (0)1489 566 166

Roberto Fiorentino, CEO

Teo Andreeva, CFO

 

Zeus
 
   Tel: +44 (0)203 829 5000

(Nominated Adviser and Broker)

Mike Coe

James Bavister

 

Novella
 
       Tel: +44 (0)203 151 7008

Tim Robertson

Safia Colebrook

 

 

Notes to editors:

Croma Security Solutions is an expanding technology led security solutions
provider with over 50 years of specialist experience, delivering high-quality
security solutions across locksmith, fire and security services for both
domestic and commercial environments. The Group's network currently stands at
17 security centres, stretching from its headquarters in Southampton, across
the Midlands and up to the Northwest. Croma services a range of sectors
including health, education, leisure and entertainment, and utilities, and is
trusted by national brands, including multiple NHS Trusts, with their complex
security needs.

Croma's growth strategy is focused on establishing a national security
network. In 2023, it sold its man-guarding business Vigilant for £6.5m, which
has provided the capital to fund the expansion of the business. Croma is a
proven acquirer of local, traditional locksmith businesses, which are
developed into its network of modern security centres, offering both total
security solutions and locksmith services to retail and commercial customers.
The new security centres benefit from extended product ranges, centralised
group services, and both a local and national customer base. Since the sale in
2023, Croma has added new businesses to its network, and has a strong pipeline
of further locksmiths stores to be acquired into the network.

Croma is listed on the AIM market of the London Stock Exchange. Founded in
1970, it is headquartered in Southampton and has over 90 employees.

 

 

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