1 June 2016 – acquisition

The group has acquired Creasefield Limited, a complementary custom batteries business, for maximum consideration of £1.5m.  Creasefield specialises in the design and manufacture of custom battery packs to a diverse range of industry sectors, primarily in the UK, and its operations are highly complementary to the existing battery operations at Solid State.  The amalgamation of the two battery businesses will create a significant force in this market and we continue to rate the shares as a BUY.