ULBI - Ultralife announces acquisition in battery and energy products business
Ultralife (NASDAQ:ULBI) acquires all outstanding shares of Excell Battery Group for $23.5M in all-cash transaction. Based in Canada with U.S. operations, Excell designs and manufactures smart battery systems, battery packs and monitoring systems. For the trailing twelve-month period ended November 30, 2021, Excell generated $21.2M of revenue. The company says transaction is expected to be accretive on an EPS basis within twelve months. "Acquisitions have been and remain an important component of our strategy to diversify commercial revenue and expand the end markets we serve. Acquiring Excell offers us opportunities to further scale our Battery & Energy Products business....expand into OEM device verticals that we do not presently serve, enhance our contributed value to both our customers and realize cost synergies," says Michael D. Popielec, President and CEO of Ultralife. Earlier today, Ultralife nabs award for its BA-5390 military batteries from Defense Logistics Agency
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Ultralife announces acquisition in battery and energy products business