EnerSys said October 27 that it agreed to acquire battery maker Ultralife for $16 per share in cash, putting the transaction’s enterprise value at approximately $320 million.
The agreement has unanimous approval from both companies’ boards, according to EnerSys’s announcement filed with the Securities and Exchange Commission. EnerSys plans to finance the purchase with cash on hand.
The acquisition is not complete. EnerSys said its subsidiary will launch a tender offer for Ultralife’s outstanding shares. Closing requires at least a majority of those shares to be tendered, along with applicable regulatory approvals and other conditions. The company expects completion in the first quarter of calendar 2027.
Ultralife, based in Newark, New York, makes rechargeable and non-rechargeable batteries, battery systems and products for military communications and other specialized uses. EnerSys reported that Ultralife generated $191 million in fiscal 2025 revenue and employs more than 700 people.
EnerSys said the transaction would expand its battery technologies and defense business. Its projected benefits remain expectations subject to completion and integration.
Sources EnerSys announcement filed with the SEC, October 27, 2026: https://www.sec.gov/Archives/edgar/data/1289308/000119312526434415/d143472dex991.htm