REG - Solid State PLC - Completion of Acquisition of Custom Power LLC.

Solid StateAnnouncement

08/08/2022 07:00

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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 (http://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

                                                  (mailto: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 (mailto:tom.cooper@walbrookpr.com)

 

Analyst Research Reports: For further analyst information and research see
the Solid State plc website: https://solidstateplc.com/research/
(https://urldefense.proofpoint.com/v2/url?u=https-3A__solidstateplc.com_research_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=JmX-gQVke87P3UDBxQzNglNm9FfzH5yZtIa_SmElSS4&s=ib8r3ul2tCaEvJ39SnR1LT7nCa7gAcRQzgO-kNoyZoM&e=)

 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 (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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