Croma buys Portsmouth's Added Security Technology in £1.74M deal
What's the deal? Croma Security Solutions GroupDealroom has a profile for this one. Try Dealroom → has completed its acquisition of Added Security TechnologyDealroom has a profile for this one. Try Dealroom → (AST), a Portsmouth-based provider of intercom and door entry systems, for roughly £1.74 million. It is the largest acquisition in the AIM-listed company's history since it sold its manned guarding business, VigilantDealroom has a profile for this one. Try Dealroom →, in 2023.
The terms: The consideration includes £0.80 million in cash balances and a freehold property valued at £0.53 million, from which AST operates. Croma will pay the remainder mostly in cash from existing reserves, plus £36,000 in 52,863 ordinary shares at 68.1 pence each and up to £50,000 in deferred payments tied to the collection of certain trade debts.
The numbers: AST reported revenue of £1.8 million and adjusted earnings before interest, taxes, depreciation and amortization of £0.3 million for the year ended August 31, 2025.
What's the endgame? AST, founded in 1995, specialises in communal door entry systems, key fobs, secure entrances, and living aids for the hearing-impaired, and also offers locksmith services. It holds a renewed 10-year contract with a local council to install door entry systems across the council's social housing program, plus deals with regional housing associations and commercial clients.
What changes? All 23 of AST's employees will join Croma. Founders Paul and Susan Sullivan will retire on completion, while their son James Sullivan, currently general manager, will continue to lead the team.
"We are delighted to announce the acquisition of AST, the largest acquisition in Croma's history since the disposal of Vigilant," said Roberto Fiorentino, Croma's chief executive officer. He pointed to opportunities to apply AST's technical expertise across Croma's network of security centres.
The signal: Croma, founded in 1970, runs 17 security centres across the UK and employs more than 95 people, serving customers including multiple National Health Service trusts. Absorbing a profitable, contract-backed local specialist shows how the group is redeploying capital into technical security services after exiting manned guarding.
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