Croma Security Solutions Group plc has completed the acquisition of TLS Security Systems.

AIM-listed innovation and service-focused security solutions provider Croma expects to pay £470,000 for the business, a family-owned provider of specialist locksmith and access control services based in Taunton, Somerset.

It comprises an initial payment of £280,000 and a deferred balance of £190,000, payable subject to the achievement of earnout targets over the 12 months following completion.

For the year to 31st March 2025, TLS generated revenues of £940,000 and EBITDA of £110,000.

Croma has also acquired the freehold retail property in Taunton, TLS’s sole trading outlet, for a cash consideration of £200,000 from the vendors’ SIPP.