Accutronics Charges Up With Ultralife

Staffordshire-based smart battery manufacturer Accutronics Ltd has been acquired by US-based Ultralife Corporation (NASDAQ: ULBI) for £7.6m. The shareholders were advised by Birmingham-based corporate finance advisers Orbis Partners.

The business was originally bought out of administrative receivership, saving 47 jobs in Newcastle under Lyme, in September 2009 and was backed by Catapult Venture Managers and Intrinsic Equity.

Accutronics is a leading independent designer and manufacturer of smart batteries and charger systems, for high-performance, feature-laden portable and handheld electronic devices. Its major customers are European based Medical device OEM’s.

The company has a strong track record of delivering rechargeable batteries and chargers for medical applications as diverse as digital imaging, ventilators, anesthesia, endoscopy, patient monitoring, cardio pulmonary care, oxygen concentration and aspiration.

For the year ended August 31 2015, Accutronics generated revenue of over £8 million.

“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 attractive commercial markets.”
Michael D. Popielec, President and Chief Executive Officer

“We were tasked with finding a good strategic buyer for the business and in Ultralife we found the ideal acquiror. Accutronics provides the ideal platform for development of the Ultralife business in both the European and the medical markets”
Chris Gregory, Partner