EnerSys To Acquire Ultralife, Expanding Differentiated Battery Technologies and Accelerating Growth in Defense Market
Key Highlights
- ➤EnerSys to acquire Ultralife (ULBI) for $16.00 per share in cash
- ➤$320 million enterprise value represents a 166% premium to Ultralife’s unaffected price
- ➤EnerSys expects $15 million to $20 million in annual run-rate cost synergies
- ➤Ultralife generated $191 million in fiscal 2025 revenue
- ➤Transaction expected accretive to adjusted diluted EPS within approximately 18 months
Expert Statements
Shawn O'Connell, President and Chief Executive Officer of EnerSys
“This acquisition is a compelling strategic fit for EnerSys and directly advances our strategy to build a broader, more differentiated defense power platform”
Shawn O'Connell, President and Chief Executive Officer of EnerSys
“Building on the success of our recent acquisitions, Ultralife expands our portfolio of advanced, reliable, high-performance power solutions.”
Shawn O'Connell, President and Chief Executive Officer of EnerSys
“Together, we will be better positioned to support the U.S. Department of War (DoW) and allied forces with leading-edge, cost-effective technologies for the increasingly electrified battlefield of the future.”
Shawn O'Connell, President and Chief Executive Officer of EnerSys
“We know the Ultralife business and its team well, and are confident that our shared commitment to engineering, problem solving, and customer focus will create a strong cultural fit.”
Shawn O'Connell, President and Chief Executive Officer of EnerSys
“We look forward to combining our strengths to accelerate growth, enhance performance, and deliver greater value to our customers and shareholders.”
Mark Matthews, Chief Technology Officer and President, Precision Power Solutions
“Ultralife complements our multi-chemistry expertise and our liquid reserve technologies with an impressive patent portfolio and strong, longstanding customer relationships.”
Mark Matthews, Chief Technology Officer and President, Precision Power Solutions
“Ultralife’s products offer exceptional capabilities such as very high energy density, long shelf life, low self-discharge, useful pulse power, and cold-weather performance, which are ideally suited to the growing defense mission profiles of today and tomorrow.”
Michael Manna, President and Chief Executive Officer of Ultralife
“Combining with EnerSys is an exciting next step that will allow us to unlock value and growth opportunities for both companies, while delivering substantial and certain cash value to Ultralife shareholders.”
Michael Manna, President and Chief Executive Officer of Ultralife
“This transaction is a testament to the hard work and dedication of our entire organization, and now offers even greater opportunities for our valued employees.”
Michael Manna, President and Chief Executive Officer of Ultralife
“We look forward to partnering with the EnerSys team with the combined scale, resources, and shared vision to accelerate innovation and better serve our global customer base.”
EnerSys To Acquire Ultralife, Expanding Differentiated Battery Technologies and Accelerating Growth in Defense Market
* Accelerates EnerSys’ growth in mission-critical defense applications particularly high growth drone and counter drone systems
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