Ultralife Corp., a Newark-based provider of battery and energy solutions, announced Monday it will acquire Electrochem Solutions Inc., a Massachusetts-based battery manufacturer, in a $50 million deal. The acquisition will expand Ultralife’s reach into new markets and boost its manufacturing capabilities.
The deal, expected to close by the end of this month, involves a stock purchase agreement with Integer Holdings Corp., Electrochem’s parent company. Electrochem specializes in critical battery technologies used in energy, military, and industrial markets globally. For the 12 months ending June 30, Electrochem reported $34 million in revenue.
Ultralife CEO Mike Manna said the acquisition strengthens the company’s competitive position and opens new opportunities for growth. Electrochem’s vice president, Khristine Carroll, will remain with the company following the acquisition, continuing to lead its operations as part of Ultralife’s Battery & Energy Products division.
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