Electronics manufacturer expands US presence with international acquisition
Solid State, a Redditch-based specialist in electronic components and design manufacturing, has acquired Q-Par Antennas USA LLC for up to $2m.
Q-Par, established in 2014, has developed a reputation in the U.S. defence and security sectors, providing antenna systems to a client base and holding approved supplier agreements.
By bringing Q-Par into its Systems division, Solid State aims to expand its presence in the U.S. antenna market, particularly in defence.
The acquisition provides Solid State with a distribution base in the U.S. and a foothold with American defence contractors.
In the medium term, Solid State plans to use Q-Par’s presence to establish antenna production in California, allowing for growth in U.S.-assembled products and associated tariff benefits.
The acquisition also allows Solid State to introduce its Steatite Antenna brand to the U.S. market.
The acquisition will be financed from Solid State’s existing cash resources, with an initial $500,000 payment on completion, followed by another $500,000 in early 2025.
An additional $500,000 will be deferred over the next two years, with a further $500,000 subject to the business achieving certain performance targets.
Over the past year, Q-Par reported $2m in revenue, with $400,000 in third-party sales and a pre-tax profit of $200,000.
Gary Marsh, CEO of Solid State Plc, said: “The acquisition of Q-Par Antennas secures a valuable distribution channel and allows the Group 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.”
