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CCTV installer Video Tec acquired competitor Security Management Plus in a deal worth more than £1 million. The acquisition, which was funded by Royal Bank of Scotland, marks the next stage of Video Tec’s plans to expand into new markets.

The company said the Staffordshire-based target, which produces CCTV systems for schools, would bring the turnover of the new enlarged business to £5 million.

“Our strategy has been to grow the business by acquiring well established companies operating in a similar market to ourselves,” managing director Bob Lister said.

Video Tec sells systems to the retail, commercial and industrial sector. The company acquired Zoom CCTV in 2005.

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