CALIFORNIA, 28 June 2023: Resonate Blends Inc, a California-based company that invests in and develops sustainable technologies, has entered into a definitive agreement to acquire Pegasus Specialty Vehicles LLC, a leading manufacturer of electric and hydrogen fuel cell school buses and specialty vehicles.
The deal, which is valued at USD 60m, is expected to close in the third quarter of 2023. Once the acquisition is complete, Pegasus will become a wholly owned subsidiary of Resonate Blends.
Pegasus is a leading provider of zero-emission school buses and specialty vehicles. The company has a strong track record of innovation and has developed strategic partnerships with leaders in the EV and hydrogen fuel cell sectors, such as Peterbilt, Zeus Electric Chassis, Hyperion Motors, and Via Motors.
The acquisition of Pegasus is a significant strategic move for Resonate Blends. The company is looking to expand its presence in the growing market for electric and hydrogen fuel cell vehicles. The deal will also give Resonate Blends access to Pegasus’s strong customer base and distribution network.
The acquisition of Pegasus is also a sign of the growing momentum in the clean transportation sector. Governments around the world are investing in clean transportation initiatives, and there is a growing demand for zero-emission vehicles.
The completion of the acquisition is subject to the satisfaction of closing conditions. However, Resonate Blends is confident that the deal will be completed in the third quarter of 2023.