York Space Systems’ ($YSS) M&A team is having a busy year.
York announced a definitive agreement today to acquire Solestial, the space-solar-cell manufacturer, for an undisclosed amount.
The acquisition is York’s third this year.
- In April, York announced it planned to acquire terminal manufacturer All.Space for $355M.
- In March, York acquired Hall-effect electric propulsion manufacturer Orbion Space Technology for approximately $74.9M, according to the company’s latest SEC filing.
Together, these acquisitions follow a similar strategy: giving York greater control over its supply chain, and setting the company up to expand into higher-growth markets.
Shedding light: Based in Arizona, Solestial builds ultra-thin, radiation hardened silicon solar cells that are 95% sourced from the US. As the number of satellites in orbit has ballooned in recent years, demand for space-rated solar cells has often put a strain on domestic supply chains. Solar cells remain expensive, and lead times can often exceed two years, according to York.
By bringing Solestial into the fold, York is attempting to reduce its supply chain risk to build more complex systems at lower cost.
“Solestial was founded to solve the space power bottleneck,” Solestial CEO Margo de Naray said in a statement. “Our customers need a solution that can scale, perform in space, and be manufactured reliably.”
Better together: Under the agreement, which is expected to close in Q2, Solestial will continue to operate as a wholly owned subsidiary, while giving York greater access to cost-efficient solar technology.
York’s plan is to selectively combine the two companies’ subsystems to create more capable, cost-efficient satellites to better compete with the growing market for commercial and defense spacecraft.
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