Mobix Labs announced plans to acquire SPD, a critical minerals trading and logistics platform, in a cash-and-stock transaction valued at $120 million.
The acquisition will integrate SPD's global network of suppliers and buyers, enhancing Mobix Labs' position in the lithium, cobalt and rare earth elements markets, which are central to electric vehicle battery production. SPD operates trading desks in Australia, Canada and the Democratic Republic of Congo, regions with key mineral deposits.
Mobix Labs, a specialty chemicals and materials group, said the deal aligns with its strategy to secure upstream supply chains for battery materials. The transaction is expected to close in the second quarter, subject to regulatory approvals and shareholder consent.
Financial terms include $80 million in cash and the issuance of 1.5 million Mobix Labs shares, based on the company's closing price of $26.67 on Friday. SPD's shareholders will retain a 20% stake in the combined entity post-acquisition.
Analysts noted the deal reflects broader industry efforts to mitigate supply chain risks amid geopolitical tensions and surging demand for battery metals. Critical minerals have become a focal point for governments and corporations seeking to reduce reliance on China, the dominant player in global processing capacity.
Mobix Labs did not disclose further details on integration plans or potential cost synergies.
