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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 £470,000. The Whiteley, England-based security services provider said the consideration comprises an initial payment of £280,000 and a deferred balance of £190,000, 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 £200,000. 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 £940,000 in the 12 months to March 31, with earnings before interest, tax, depreciation and amortisation of £110,000. It has a net asset value of £360,000. ‘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. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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