Solid State expands manufacturing capability by acquisition
Solid State plc, a component supplier and design-in manufacturer of computing, power and communications products, has entered into a conditional agreement to acquire Custom Power LLC, a U.S. battery systems manufacturer and energy solutions provider
Solid State has agreed to acquire the entire equity interest in Custom Power for a maximum consideration of $45.0 million, a press release reads.
The directors at Solid State consider that the acquisition will "add scale to the Group’s power capabilities
particularly in the defence, medical and industrial markets which have high barriers to entry."
The acquisition also provides Solid State with a contract manufacturing relationship in Mexico and sales channels for own brand power products and systems to service new international Tier 1 customers.