Q-par Angus Limited is Acquired by Solid State PLC

Solid State is pleased to announce the acquisition of the entire issued share capital of Q-par Angus (Q-par). The Hereford-based business will be integrated into the Steatite operation, which is based in Redditch.

Q-par will now be known as Steatite Q-par Antennas, and will remain as one of Europe’s leading microwave engineering experts specialising in the design and manufacture of ultra-wideband antennas, subsystems, antenna components and consultancy.

Q-par was established in 1973 and operates in the EW, SIGINT, test and measurement markets and has a global client list including several UK and overseas government organisations, first tier defence companies and system integrators who operate in a wide variety of areas including ELINT, COMINT, EMC and spectrum management.

Q-par Angus Ltd is one of Europe’s leading experts in microwave and RF engineering, with specialisation in antenna systems including microwave reflectors, horn antennas and antenna positioning principally for the broadcast, environmental, industrial, medical, security and defence markets. Q-par has a global client list including GCHQ, QinetiQ, the Ministry of Defence, EADS Astrium, Indra, NASA and the US department of Defence. More than 70% of Q-par’s products are exported overseas through a network of specialist sales agents.

Steatite managing director John Lavery said:"Q-Par is an excellent fit for Steatite, offering a broadening of specialist products and services, however, equally importantly, an existing specialist agent network who can further internationalise our existing Steatite product range. We see this as a truly complementary match."

Established in 1973, Q-par employs 35 security cleared staff based in Leominster, Herefordshire, engaged in product research, design and manufacturing. Q-par is MoD approved for the handling of government encrypted data. A large proportion of its products are based on proprietary designs where Q-par retains the intellectual property and full design files, resulting in a high degree of client retention and repeat order cycles. This affords considerable barriers to entry for competitors.

Q-par is a high margin business, which is expected to enhance overall Steatite Group margins and enhance earnings, albeit that there will be some integration costs incurred in the current year.

The acquisition of Q-par strengthens Solid State’s product offering in its existing defence, industrial and environmental markets while additionally opening up new markets in the fields of medical, counter terrorism and commercial and military intelligence gathering. The board is excited by the prospects for these markets, some of which continue to benefit from global political instability and the ever-present threat of insurgent and terrorist activity.

Q-par founders Richard and Jenny Holliday said about the acquisition, "We are delighted Solid State PLC have acquired the business and will provide an ideal environment for Q-par to grow and to move into new and interesting fields, as well as giving fresh opportunities to the staff."

Q-par will continue to build upon a successful year with a strong order book and increasing opportunities around the globe. Q-par will be launching a number of new wideband antenna products during the remainder of 2013, and will be exhibiting at a number of events including EW Europe 2013, Cologne, 50th Annual AOC Symposium and Convention, Washington DC, and the European Microwave Week, 2013 at Nuremberg, Germany.

Q-par general manager John Coad said: "We are looking forward to being part of the Steatite family. The growing opportunities this presents are exciting and bode well for the future."

Solid State chief executive Gary Marsh said:

"At Solid State, we believe that the application of our engineering expertise strengthens both the business, through development of intellectual property, and our client relationships through the customisation of client solutions to wholly match their needs. In Q-par we have found a business with the same philosophy. Their inclusion will undoubtedly add strength and depth to the Group.

"The acquisition of Q-par is our sxth acquisition in the past 11 years and follows the hugely successful acquisition of Blazepoint in October 2011. This demonstrates the continued commitment to our acquisition strategy for our computing, components and batteries businesses and our ambition for the future prospects of Solid State."

AIM-listed Solid State is broken into differing trading divisions. Steatite based in Redditch, and is one of the UK’s leading suppliers of industrial rugged computing platforms and battery power solutions, while Solid State Supplies, also located in Redditch, is a leading edge specialist electronic component distributor.

 

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