Ultralife acquires Accutronics to expand reach in Europe

January 14, 2016 // By Paul Buckley
Ultralife Corporation has acquired all of the outstanding shares of Accutronics Ltd., for $11.0 million in cash, subject to customary working capital and net cash/debt adjustments.

Based in Newcastle-under-Lyme, U.K., Accutronics Ltd. is an independent designer and manufacturer of smart batteries and charger systems for high-performance, feature-laden portable and handheld electronic devices. Accutronics has more than 40 years’ experience in battery design and manufacture and serves OEMs worldwide in medical, military, industrial and portable electronics markets.

With a portfolio encompassing custom battery design, development and manufacturing for OEMs; standard smart batteries, chargers and accessories; and pre-engineered batteries and power solutions for specific applications, Accutronics primarily serves the portable medical device market throughout Europe. Medical applications include digital imaging, ventilators, anaesthesia, endoscopy, patient monitoring, cardio pulmonary care, oxygen concentration and aspiration. For their fiscal year ended August 31, 2015, Accutronics generated revenue of approximately $12.5 million.

Michael D. Popielec, Ultralife's President and Chief Executive Officer, said: "Acquiring Accutronics advances our strategy of commercial revenue diversification and expands our geographic reach within European OEMs. With industry experts predicting mid-to-high single digit growth in the global medical batteries market, this strategic investment positions Ultralife well for further penetration of and growing revenue streams from an attractive commercial market."

Related articles and links:

www.ultralifecorp.com

News articles:

Safer lithium-ion battery shuts down before overheating

Will built in sensors make lithium-ion batteries safer?

Modular batteries easy to assemble and configure in 3D