Solid State plc, the parent company of Steatite Ltd is pleased to announce the acquisition of Creasefield Ltd, a custom batteries business.
The operations of Creasefield are highly complementary to Steatite’s existing battery business and will allow for wider use of IP, design and engineering capability, cross-selling of existing products and development of sales into new markets. Bringing together the resources and expertise of Creasefield and Steatite’s highly regarded and already substantial battery division, will further increase Steatite’s leading position within this sector.
Creasefield specialises in the design and manufacture of custom battery packs to a diverse range of industry sectors principally in the UK, including; Commercial Aerospace; Oil & Gas; Medical; Subsea; Safety; Water; Rail; Military; Security and Government.
Commenting on the acquisition, Gary Marsh, Chief Executive of Solid State plc 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.”