5th Jan 2026 13:59
(Alliance News) - Croma Security Solutions Group PLC on Monday said it has completed the acquisition of Taunton, England-based TLS Security Systems Ltd, which provides specialist locksmith and access control services, for GBP470,000.
The Whiteley, England-based security services provider said the consideration comprises an initial payment of GBP280,000 and a deferred balance of GBP190,000, which is subject to the achievement of earn-out targets over the 12 months after completion.
Croma said it has also bought TLS's sole trading outlet, a freehold retail property in Taunton, from the vendors' self-invested personal pension for GBP200,000.
It added that both the acquisition of TLS and the property will be funded from its existing cash reserves.
Croma said TLS derives around 80% of its turnover from commercial customers, led by local authorities and healthcare sector operators.
TLS generated revenue of GBP940,000 in the 12 months to March 31, with earnings before interest, tax, depreciation and amortisation of GBP110,000. It has a net asset value of GBP360,000.
"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," said Croma Chief Executive Officer Roberto Fiorentino.
Shares in Croma Security Solutions were up 6.8% at 79.00 pence on Monday afternoon in London.
By Michael Hennessey, Alliance News reporter
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