EnerSys agrees to buy Ultralife for $320 million in cash
Newark, New York-based Ultralife, a maker of defense and industrial batteries and communications systems, will be acquired by EnerSys for $16.00 per share.
EnerSys has entered into a merger agreement to acquire Ultralife Corporation (NASDAQ: ULBI) in an all-cash transaction valued at about $320 million including assumed net debt. Ultralife shareholders will receive $16.00 per share, a premium of 166% to the October 26, 2026 closing price. Both boards have unanimously approved the deal.
The deal will be carried out as a tender offer by an EnerSys subsidiary, requiring tender of at least a majority of Ultralife's outstanding shares and regulatory approvals. EnerSys plans to fund it with cash on hand and said it is not subject to a financing contingency. The companies expect closing in the first quarter of 2027.
EnerSys said Ultralife expands its defense power portfolio, adding multi-chemistry capabilities and manufacturing capacity for its liquid reserve battery technology. Ultralife's CEO Michael E. Manna said the combination offers substantial and certain cash value to shareholders.
Deal facts
- Target
- Ultralife
- Business
- Newark, New York-based maker of mission-critical battery, power and communications systems for defense, medical, oil and gas and industrial markets
- Buyer
- EnerSys
- Deal type
- Strategic
- Headquarters
- Newark, New York
- Value
- $320 million
- Status
- Announced, not yet closed
- Announced
- Monday, October 26, 2026
Sources
- GlobeNewswireOct 27, 2026
- aol.comOct 26, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.