Croma Security Solutions Group PLC Acquisition (8406Y)
January 08 2024 - 1:00AM
UK Regulatory
TIDMCSSG
RNS Number : 8406Y
Croma Security Solutions Group PLC
08 January 2024
8 January 2024
Croma Security Solutions Group Plc
("CSSG", "Croma", "the "Company" or the "Group")
Announces Acquisition of Two Locksmiths
Croma Security Solutions Group plc (AIM:CSSG) is pleased to
announce that it has completed the acquisition of two separate
locksmith businesses for a combined cash consideration of
GBP438,000 which includes a freehold property valued at GBP0.35
million.
The two locksmith businesses have a combined annual turnover of
GBP0.5 million and operate from Peterborough and Worthing, a good
fit with the Group's existing network. Both have developed strong
local client bases and are ideal stores to be developed into a
Croma security centre. This proven template combines the sales
offer of a traditional locksmith with security and fire solutions,
elevating the stores into modernised security centres. Once
redeveloped, the new security centres will service their local
existing customer base, as well as the wider Croma network of
commercial clients.
The acquisitions are part of the Group's ambitions to roll out
its security centre network nationwide and takes the total number
of centres to 16. There are further acquisition opportunities under
consideration by the management team with the potential to
transform more traditional locksmiths into modern security centres
with stronger in-store product ranges and much greater profit
potential.
Roberto Fiorentino, Chief Executive Officer, commented: "These
two acquisitions represent a good start to 2024. I am delighted to
welcome two more locksmiths into the Croma Group, and I feel
confident they will be excellent additions."
For further information visit www.cssgroupplc.com or
contact:
Croma Security Solutions Group Plc Tel: +44 44 (0)1489 566
166
Roberto Fiorentino, CEO
Teo Andreeva, CFO
WH Ireland Limited Tel: +44 (0)207 220 1666
(Nominated Adviser and Broker)
Mike Coe
Sarah Mather
Novella Tel: +44 (0)203 151 7008
Tim Robertson
Claire de Groot
Safia Colebrook
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQBAMATMTBMBTI
(END) Dow Jones Newswires
January 08, 2024 02:00 ET (07:00 GMT)
Croma Security Solutions (LSE:CSSG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Croma Security Solutions (LSE:CSSG)
Historical Stock Chart
From Apr 2023 to Apr 2024
