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CSSG Croma Security Solutions Group Plc

73.50
0.00 (0.00%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Croma Security Solutions Group Plc LSE:CSSG London Ordinary Share GB00B5MJV178 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 73.50 70.00 77.00 73.50 73.50 73.50 8,826 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Srch,det,nav,guid,aero Sys 42.83M 3.7M 0.2695 2.73 10.09M

Croma Security Solutions Group PLC Acquisition (7499S)

18/11/2021 7:00am

UK Regulatory


Croma Security Solutions (LSE:CSSG)
Historical Stock Chart


From May 2021 to May 2024

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TIDMCSSG

RNS Number : 7499S

Croma Security Solutions Group PLC

18 November 2021

18 November 2021

CROMA SECURITY SOLUTIONS GROUP PLC

("CSSG" or the "Company")

Acquisition of Manchester Locksmith Company - Safeguard Ltd

Croma Security Solutions Group Plc, the total security services provider, is pleased to announce the acquisition of the entire issued share capital of Safeguard Ltd ("Safeguard") for an upfront consideration of GBP0.53 million plus a deferred consideration of up to GBP0.08 million. Safeguard is a Manchester based locksmith business servicing the security needs of Cheshire and operating from a retail store in Warrington.

In the 12 months to 30 September 2021 Safeguard generated revenues of GBP0.5 million and EBITDA of GBP0.1 million. The business was family owned and has GBP0.1m of cash and a freehold property valued at approximately GBP0.35 million.

Safeguard was established in 1982 and over time has built up a loyal customer base amongst local homeowners and businesses, focusing on providing security products to ensure building safety.

The acquisition is in line with the Company's strategy to establish a national chain of modern security centres offering the full range of the Group's services from manned guarding to CCTV, intruder alarm and advanced security systems as well as high security locks. The Safeguard store will be rebranded and adapted to become a security centre and will benefit from having the Group's broader expertise and product range behind it. The total number of security centres is now 11.

Sebastian Morley Chairman of CSSG said:

"Safeguard is an excellent local business and is a natural fit with our strategy of establishing a national chain of modern security centres. We are confident we can increase the earnings from this outlet as we have with our other previous single store acquisitions. Cheshire is an affluent part of the country where home owners and businesses seek and can afford to ensure that their assets are secure."

For further information visit www.cssgroupplc.com or contact:

Croma Security Solutions Group Plc Tel: +44 (0)7768 006 909

Sebastian Morley (Chairman)

WH Ireland Limited

Tel: +44 (0)207 220 1666

(Nominated Adviser and Broker)

Mike Coe

Jessica Cave

Novella Tel: +44 (0)203 151 7008

Tim Robertson

Fergus Young

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END

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(END) Dow Jones Newswires

November 18, 2021 02:00 ET (07:00 GMT)

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