Croma Security Solutions Group PLC
03 August 2026
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information will be in the public domain.
03 August 2026
Croma Security Solutions Group Plc
("CSSG", "Croma", "the Company" or the "Group")
Acquisition of Added Security Technology Limited
Issue of Equity and Total Voting Rights
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 Added Security Technology Limited ("AST"), an established provider of intercom and door entry systems, locksmith services and hearing impaired living aids, based in Portsmouth.
The total consideration for the acquisition is approximately £1.74 million and includes cash balances of £0.80 million and a freehold property, from which the business trades, valued at £0.53 million.
For the year ended 31 August 2025, AST generated revenue of £1.8 million and adjusted EBITDA of £0.3 million.
The total consideration will be satisfied primarily in cash from the Group's existing cash reserves, together with £36,000 satisfied through the transfer of 52,863 ordinary shares at the price of 68.1p per share (the 'Consideration Shares') held in treasury and up to £50,000 of deferred consideration payable following the collection of certain trade debtors during the six months following completion.
Founded over 30 years ago, AST is a specialist supplier and installer of communal door entry and intercom systems, key fobs and secure entrances, together with a growing specialism in hearing impaired living aids such as hearing loops and flashing doorbells. AST also provides locksmith services to its customer base. The business holds a long standing contract with a local council, recently renewed for a further 10 years, covering the installation of door entry systems and entrance doors across the council's social housing programme, alongside further contracts with regional housing associations and commercial clients.
AST employs 23 members of staff, all of whom are locally based and will join the Group as part of the acquisition. This highly experienced team is a significant addition to the Group's engineering and advisory capability.
Croma is proud to be acquiring a local, family run business with a longstanding reputation in Portsmouth, and with AST's position within the local housing sector, underpinned by its long-term intercom and door entry contract with the City Council, the acquisition is complementary to Croma's existing capability across industry, and provides a strong platform for the Group to broaden its service offering.
The vendors Paul and Susan Sullivan will retire from the business upon completion, having led AST since founding the company in 1995. Their son James Sullivan, currently serving as General Manager, will continue to lead the AST team, enabling a smooth transition into the Croma Group.
Roberto Fiorentino, Chief Executive Officer, commented: "We are delighted to announce the acquisition of AST, the largest acquisition in Croma's history since the disposal of Vigilant. Having known the business for many years, we are confident that AST will be an excellent addition to the Group. It has built an excellent reputation, underpinned by a loyal, long-standing customer base and recognised expertise in specialist security systems. In addition to the operational and commercial synergies that this acquisition brings, we see significant opportunities to leverage AST's specialist technical capabilities across our network of security centres."
Paul Sullivan, founder of AST, said: "AST has been a family business for over 30 years, and I am proud of what the team has built. Joining the Croma Group represents the right next step for the business and for our staff, giving them the backing of a larger group while keeping our local presence and approach that our customers value. I look forward to seeing AST continue to grow as part of Croma."
Consideration and Shares and Total Voting Rights
The Consideration Shares will be satisfied from the Ordinary Shares the Company currently holds in treasury.
Following the issue of the Consideration Shares, the issued share capital of the Company remains unchanged at 15,898,656 and the Company now holds 2,077,538 shares in treasury. The total voting rights in the Company is now 13,821,118 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Croma under the FCA's Disclosure Guidance and Transparency Rules.
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 Communications Tel: +44 (0)203 151 7008
Tim Robertson
Oliver Norton
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 and security 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 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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