Solid State acquires battery pack maker
Redditch electronics manufacturer Solid State has acquired specialist batteries business Creasefield for more than £1.5 million.
Creasefield designs and makes custom battery packs to a range of industries, including aerospace, rail, security and oil and gas. Creasefield turned over £4.8m in the year to 31 March 2016.
Gary Marsh, chief executive of Solid State, said: “We have a stated ambition of growing both organically and by making selected complementary acquisitions.
“Creasefield is a specialist in a field where Solid State already has a successful business. The aggregation of these two battery operations creates a business that will be a significant force in its market.
“With a broader sector spread and a greater depth of design and production capability, we expect the enlarged division to be able to further exploit new opportunities in this specialist field. We are increasing our marketing resource to support the technical teams and anticipate a successful future for the batteries business.”
Solid State said Creasefield’s operations are “highly complementary” and would allow for wider use of its intellectual property to expand into new markets.