Solid State Plc Acquires Custom Power LLC
July 18, 2022
Solid State Plc (AIM:SOLI) has entered a conditional agreement to acquire Custom Power LLC, a California-based battery pack manufacturer and energy solutions provider, for a maximum consideration of $45.0 million. The deal expands Solid State's power capabilities and international footprint into the U.S., and results in CVF Capital Partners exiting its investment in Custom Power.
- Buyers
- Solid State Plc
- Targets
- Custom Power LLC
- Sellers
- CVF Capital Partners, Elan Growth Partners
- Industry
- Manufacturing
- Location
- California, United States
- Transaction Type
- Buyout
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