Accutronics acquired by US firm in £7.5m deal

Accutronics acquired by US firm in £7.5m deal

Newcastle-under-Lyme-based Accutronics has been purchased by leading US battery manufacturer Ultralife Corporation in a deal worth £7.575m.

Accutronics is an independent designer and manufacturer of smart batteries and charger systems for high-performance, feature-laden portable and handheld electronic devices.

For their fiscal year ended 31 August, 2015, Accutronics generated revenue of over £8m. The transaction is expected to be accretive on an EPS basis within 12 months.

Michael Popielec, Ultralife's president and chief executive officer, said: “Accutronics, a well-run, profitable company with a compatible business model, growth profile and management approach, is a great bolt-on fit to our Battery and Energy Products business unit.

“Acquiring Accutronics advances our strategy of commercial revenue diversification and expands our geographic reach within European OEM’s.

“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.”

Ultralife Corporation specialises in products and services ranging from portable power solutions to communications and electronics systems.