SolAero Technologies to Acquire Alliance Spacesystems
[Via Satellite 04-16-2015] SolAero Technologies, a provider of space solar power solutions, has signed a definitive agreement to acquire Alliance Spacesystems, a provider of high-performance composite structures for spacecraft applications. The combination of SolAero and Alliance creates a vertically integrated satellite subsystem provider offering its satellite OEM customers improved value across a spectrum of mission-critical products and technical solutions. The combined company will employ approximately 400 people with revenue of more than $100 million from commercial and government customers worldwide.
Based in Los Alamitos, Calif., Alliance manufactures and designs composite structures for spacecraft and other high-tech applications where strength-to-weight ratio, superior stiffness and dimensional stability are key requirements. Alliance’s vertically integrated composite structures capabilities include development, design, fabrication, integration, and testing in its 100,000 sq. ft. facility. Alliance will be operated as a separate subsidiary from SolAero, will be led by Rick Byrens, president of Alliance, and will continue to serve customers out of its Los Alamitos facility.
Alliance is being sold by affiliates of Admiralty Partners, and Houlihan Lokey acted as exclusive financial advisor to Alliance. The transaction is subject to customary closing conditions and is expected to close in the second quarter of this year.