Solid State PLC Completion of Acquisition of Custom Power LLC. (1672V)
August 08 2022 - 2:00AM
UK Regulatory
TIDMSOLI
RNS Number : 1672V
Solid State PLC
08 August 2022
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8 August 2022
Solid State plc
("Solid State", the " Group " or the "Company" )
Completion of Acquisition of Custom Power LLC.
Solid State (AIM:SOLI), the specialist value added component
supplier and design-in manufacturer of computing, power and
communications products, is pleased to announce that it has
completed the acquisition of Custom Power LLC., the battery systems
and energy solutions provider based near Los Angeles in the United
States, details of which were announced on 12 July 2022 and set out
in the Circular dated 13 July 2022 both of which are available on
the Company's website ( www.solidstateplc.com ) .
Gary Marsh, Chief Executive of Solid State, said:
"We are delighted to have completed the transformational
acquisition of Custom Power, which represents a step-change in our
power business.
"The newfound scale and increasingly international offering open
up opportunities in specialist and growth markets driven by
decarbonisation and the drive for cordless power.
"We look forward to integrating Custom Power and welcoming our
new colleagues to the Solid State Group."
For further information please contact:
Solid State plc 01527 830 630
Gary Marsh - Chief Executive investor.information@solidstateplc.com
Peter James - Group Finance Director
WH Ireland (Nominated Adviser &
Joint Broker) 020 7220 1666
Mike Coe / Sarah Mather (Corporate
Finance)
Fraser Marshall (Corporate Broking/
Sales)
finnCap (Joint Broker) 020 7220 0500
Ed Frisby / Kate Bannatyne (Corporate
Finance)
Rhys Williams / Tim Redfern (Sales
/ ECM)
Walbrook PR (Financial PR) 020 7933 8780
Tom Cooper / Paul Vann 0797 122 1972
tom.cooper@walbrookpr.com
Analyst Research Reports: For further analyst information and
research see the Solid State plc website:
https://solidstateplc.com/research/
Notes to Editors:
Solid State plc (SOLI) is a value added electronics group
supplying commercial, industrial and military markets with durable
components, assemblies and manufactured units for use in specialist
and harsh environments. The Group's mantra is - 'Trusted technology
for demanding applications'. To see an introductory video on the
Group
- https://bit.ly/3kzddx7
Operating through two main divisions: Systems (Steatite &
Active Silicon) and Components (Solid State Supplies, Pacer, Willow
Technologies & AEC); the Group specialises in complex
engineering challenges often requiring design-in support and
component sourcing for computing, power, communications,
electronic, electro-mechanical and opto-electronic products.
Headquartered in Redditch, UK, Solid State employs approximately
300 staff across UK and US, serving specialist markets in
industrial, defence and security, transportation, medical and
energy.
Solid State was established in 1971 and admitted to AIM in June
1996. The Group has grown organically and by acquisition - having
made 12 acquisitions since 2002.
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END
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