Solid State acquires Q-Par Antennas to expand US market presence

Solid State PLC, an electronics supplier based in Worcestershire, England, has announced the acquisition of Q-Par Antennas USA LLC for a total potential consideration of up to USD 2 million. The move aims to support Solid State’s expansion into the United States by enhancing its distribution capabilities and gaining approved supplier status with key US defence and security contractors.

In its most recent fiscal year ending on September 30, Q-Par Antennas reported revenue of $2 million and a pretax profit of $200,000. Solid State intends to fund the acquisition from its existing cash resources. The agreement involves an initial $500,000 payment, a subsequent $500,000 due in early January 2025, and a further deferred payment of $500,000 to be released over a two-year period. An additional $500,000 is contingent upon achieving specified growth and performance benchmarks.

Gary Marsh, Chief Executive Officer of Solid State, stated, “The acquisition of Q-Par Antennas secures a valuable distribution channel and gives the group an opportunity to further invest in the medium-term growth opportunity in the US markets. As Solid State broadens its footprint and product offering in the US market, locally recognised and accredited sales channels enable scale, particularly into niche markets.”

This news comes hot on the heals of Solid State announcing in October that its Custom Power LLC USA brand has secured contract wins worth a total of USD5.1 million. The company acquired Custom Power in August 2022.

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