Mobix Lab buys Spacecraft Component for $18M-$24M in ‘expected’ accretive deal

Mobix Lab (MOBX)s announced it has agreed to acquire Spacecraft Component …The acquisition, which is expected to close in the first quarter of 2025, represents a significant strategic milestone for Mobix Labs as it expands its presence into new markets and strengthens its leadership in key industries. Spacecraft Components is recognized for its cutting-edge engineering and manufacturing capabilities…As a long-standing supplier to Mobix Labs, Spacecraft Components Corp. has provided high-quality components for Mobix Labs products. This acquisition is a natural fit, allowing Mobix Labs to integrate Spacecrafts expertise and expand into the aerospace, military, and defense sectors; while also entering the transportation market as a new revenue stream. … The acquisition is expected to increase Mobix Labs workforce by approximately 150 employees, primarily based in Nevada. Spacecraft Components reported unaudited revenues of $18.1M in 2023, with forecasted growth for the next two years. Spacecrafts compiled unaudited non-GAAP financials represent it has positive earnings and cash flow. The acquisition is expected to be accretive to Mobix Labs earnings. If the transaction closes as anticipated, it will materially increase Mobix Labs revenue in fiscal year 2025. The terms of the transaction include a purchase price ranging from $18M to $24M, with consideration to be paid in a combination of cash and equity, subject to earnout provisions, all of which will be finalized subject to completion of due diligence. The deal remains subject to final due diligence and the approval of the boards of directors of both companies.