Croma Security Solutions is pleased to announce that it has bought Access Key & Lock, an established locksmiths based in Fareham, in a deal worth £2m.
“We’re delighted to complete this acquisition. Access Key & Lock is a fantastic business with a great footprint along the south coast,” commented Sebastian Morley, Chairman of Croma Security Solutions. “It will help us attract and service large corporate clients in the south and, in due course, further afield. We see the locksmith market as one which is ripe for consolidation by a quality-focused service provider."
Access Key & Lock has five outlets located in Fareham, Portsmouth, Southampton, Bournemouth and Brighton. In the last financial year, Access Key & Lock had sales of £2.44m and pre-tax profits of £300,000. The company was founded in 1998 and has 34 employees. Access Key & Lock won Britain’s Best Security Retailer every year from 2008-2011.