REG - Croma Sec. Sol. Grp - Acquisition

Croma Security SolutionsAnnouncement

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RNS Number : 6562W  Croma Security Solutions Group PLC  16 March 2026

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16 March 2026

Croma Security Solutions Group Plc

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

Acquisition of Southern Security Services

Croma Security Solutions Group plc (AIM:CSSG), the AIM listed innovation and
service-focused security solutions provider, is pleased to announce the
completion of the acquisition of Southern Security Services Limited ("SSS"),
an established electronic security and specialist locksmith business based in
Poole, Dorset from its owner-manager, Pierre Grandjean

The total consideration for the acquisition , subject to adjustments for cash,
debt and working capital at completion, is £0.55 million. This comprises an
initial payment of £0.46 million and a deferred balance of £0.09 million,
payable subject to the achievement of earn-out targets over the 12 months
following completion.

Included in the transaction is SSS's single trading outlet, a freehold
property valued at £0.4 million. The acquisition will be funded from the
Group's existing cash reserves.

For the year to 31 December 2025, SSS generated revenues of £1.04 million and
EBITDA of £0.13 million and had a net asset value of £0.43 million.

SSS is a principally a provider of electronic security, generating revenue
from the sale, supply, installation and maintenance of locking systems and
safes, intruder alarms, CCTV, access control, and automated security doors and
gates. Founded in 1983, the business has a strong reputation for providing
premium security advice, SSS's primary customer focus is commercial and
includes key clients such as local authorities and healthcare‑sector
operators.

SSS employs 12 members of staff, all of whom are locally based and will join
the Group as part of the acquisition. This team, which is highly experienced
in advising on the installation of comprehensive physical and electronic
security systems, represents a significant addition to Croma's engineering and
advisory capability.

 

With SSS operating from Poole, in close proximity to a number of the Group's
existing clients, this is a highly complementary local acquisition. The
business is already well known to the Group, creating immediate opportunities
to share projects and allocate resources efficiently.

 

Pierre Grandjean will remain with the business for a period of 12 months
following completion to support a smooth transition. Following the expiry of
the earn‑out period, he may, subject to mutual agreement, continue in a role
with the Group on a longer‑term basis.

Roberto Fiorentino, Chief Executive Officer, commented: "We are very pleased
to announce the acquisition of SSS. We know Pierre and the team well, and they
have built an excellent group of engineers whose experience aligns closely
with the projects the wider Group is currently delivering. As we welcome them
into the Group, we see immediate opportunities for synergy through the
integration of SSS within our operations. We are confident this acquisition
will prove to be a strong strategic fit."

Pierre Grandjean, Managing Director of SSS Security Systems, said: "Southern
Security Services Ltd has developed into a strong and well‑established
business. Joining the Croma Group represents an important next step for the
company and creates opportunities to broaden its capabilities and scale its
operations. The nature of Southern Security Services' work closely aligns with
projects already being delivered by the Group in other regions, including
larger programmes that are strategically important to both businesses.
Combining the expertise of both teams will enhance delivery capability and
support the pursuit of similar opportunities across the Group. I look forward
to Southern Security Services Ltd becoming an integral part of the Croma
Group."

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

Aeliya Bilgrami

 

 

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 95 employees.

 

 

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