TILT Holdings, a vertically-integrated infrastructure and technology platform in the cannabis industry, announced it has agreed to acquire Jupiter Research, a leading inhalation and vaporization technology company in Phoenix, Arizona.
TILT signed a definitive agreement on Jan 2nd to acquire Jupiter Research for $210 million.
Jupiter Research, founded in 2015 by prior NJOY product developer Mark Scatterday and Bob Crompton, is leading the charge in the multibillion-dollar industry of vaporization.
“Our rich heritage in CPG and e-cigarette product innovation combined with long-standing manufacturing partnerships in China provided us a market leading advantage to bring advanced high-performance technologies to the cannabis industry,” stated Scatterday.
Jupiter Research produces power supplies and vaporizer cartridges specifically designed for cannabis oil, featuring exclusively ceramic CCELL technology.
Jupiter is partnered with more than 700 brands and cannabis retailers across the U.S., Canada, Israel and Europe.
Crompton said, “Jupiter Research’s monthly sales continue to increase 15 percent month over month, and we already have US$28M of booked orders going into Q1. The opportunity to combine the synergies of the TILT portfolio of companies is expected to add to our rapid growth.”
Jupiter generated approximately $77 million in 2018 revenue with an estimated 20% EBIDTA margin, and already has $28 million in booked orders going into Q1 of 2019.
Photo: Jupiter Research