Ultralife Corp. has acquired all the outstanding shares of a United Kingdom-based battery designer and manufacturer for roughly $11 million in cash.
Accutronics Ltd. primarily serves the portable medical device market throughout Europe, officials said. Medical applications include digital imaging, ventilators, anesthesia, endoscopy, patient monitoring, cardio pulmonary care, oxygen concentration and aspiration.
For its fiscal year ended Aug. 31, Accutronics generated revenue of more than $12.5 million.
Michael Popielec, Ultralife president and CEO, said the deal expands the Newark, Wayne County, firm’s geographic reach and helps diversify its commercial revenue base.
“To further drive the proven operating leverage of our business model, we are focused on revenue growth from new product development and market and sales reach expansion, while seeking acquisitions that enhance our organic growth opportunities,” Popielec said in a statement. “Accutronics … is a great bolt-on fit to our Battery and Energy Products business unit.”
(c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail email@example.com.