Los Alamitos-based Alliance Spacesystems LLC, which manufactures composite structures for the aerospace industry, was acquired by SolAero Technologies Corp., an Albuquerque, N.M.-based solar panels maker.
Terms of the deal weren’t disclosed.
Alliance makes lightweight composite structures used in commercial and military satellites. Its customers include Boeing, Raytheon and the Jet Propulsion Laboratory at California Institute of Technology.
A statement by SolAero said the combined company will employ about 400 workers and have more than $100 million in annual revenue. SolAero has about 280 employees, and Alliance, which has a 100,000-square-foot facility in Los Alamitos, has about 120.
Alliance was part of the portfolio of Los Angeles-based investment firm Admiralty Partners Inc., which typically invests in companies that have at least $25 million in revenue and $5 million or more in pre-tax earnings.
