Home / Industry / Energy / Ultralife acquires U.K. battery manufacturer for $11 million

Ultralife acquires U.K. battery manufacturer for $11 million

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 rbj@rbj.net.

x

Check Also

The Steve Miller Band's June 28 show will headline the CGI Rochester International Jazz Festival (provided photo).

Steve Miller Band will headline Rochester Jazz Fest (access required)

The Steve Miller Band, a Rock & Roll Hall of Fame inductee in 2016, will be the main attraction in ...

Mirror Show Management's MapBuilder by ExperiDigital will be part of the New Product Showcase at EXHIBITORLIVE in Las Vegas next week.

Mirror Show Management’s MapBuilder to be featured at trade show (access required)

Mirror Show Management's recently introduced innovation, MapBuilder by ExperiDigital, will be one of 25 inventions in EXHIBITORLIVE's 2019 New Product Showcase. ...