Mobix Labs Acquires Spacecraft Components
November 29, 2024
Merger/DeSPAC: Dec 22, 23
Industry:
SEMICONDUCTORS & RELATED DEVICES
Irvine, California – Mobix Labs (Nasdaq: MOBX, MOBXW), a provider of advanced connectivity solutions, is acquiring Spacecraft Components Corp., a manufacturer of high-precision components for aerospace, defense, and commercial applications. The acquisition is expected to close in the first quarter of 2025.
Spacecraft Components supplies key components for the Patriot Missile system, submarines, naval ships, oil rigs, and railcars. The acquisition allows Mobix Labs to expand its presence in the aerospace, military, and defense sectors, while also entering the transportation market.
“This acquisition is transformative for Mobix Labs,” said Fabian Battaglia, CEO of Mobix Labs. “Spacecraft’s exceptional reputation and product offerings, combined with Mobix Labs’ innovation and expertise, will drive significant growth opportunities for both companies.”
The acquisition is expected to increase Mobix Labs’ workforce by approximately 150 employees. Spacecraft Components reported $18.1 million in revenue in 2023. The acquisition is expected to be accretive to Mobix Labs’ earnings and materially increase revenue in fiscal year 2025.
TOYO Co., Ltd. Expands into US Market and Secures Major Contract
November 29, 2024
Merger/DeSPAC: Jul 02, 24
Industry:
MISCELLANEOUS MANUFACTURING INDUSTRIES
Houston, Texas & Tokyo, Japan – TOYO Co., Ltd. (Nasdaq: TOYO), a solar solutions company, announced the acquisition of Solar Plus Technology Texas LLC and secured a $150 million contract to supply solar cells to a leading module manufacturer.
The acquisition of Solar Plus Technology Texas LLC includes a manufacturing facility in Houston with a planned capacity of 2.5 gigawatts (GW) for solar modules, expandable to 6.5 GW by 2029. Production is expected to commence in mid-2025 with 1 GW and increase to 2.5 GW by the end of 2025.
“This acquisition marks a significant step in TOYO’s strategy to establish a manufacturing footprint in the U.S.,” said Junsei Ryu, Chairman and CEO of TOYO. “Our strategy is to supply end customers with technologically advanced, highly reliable, and cost-competitive solar solutions.”
In addition to the acquisition, TOYO announced that it has secured a $150 million contract to supply high-efficiency solar cells to a leading module manufacturer. The solar cells will support the customer’s expanding module production in India and the U.S.
“We are excited to partner with a highly respected player in the solar industry,” said Ryu. “This contract marks a major milestone for positioning TOYO as a key supplier in the solar energy market.”
These two developments underscore TOYO’s commitment to advancing sustainable energy and expanding its global presence.