Newark-based Ultralife Corporation completed its acquisition of all outstanding shares of Electrochem Solutions, Inc. (“Electrochem”) for $50.0 million in cash from Integer Holdings Corporation. The transaction was completed on October 31, 2024.
“I am thrilled to welcome Electrochem to the growing Ultralife Team as another valued member that shares our core values, operating philosophy, and strong commitment to both our associates and our long-standing customers. Having achieved our target of closing the acquisition of Electrochem by the end of October, we now look forward to working closely with Khristine Carroll, President – Electrochem, and her experienced team to jointly implement our integration playbook. Together, we will advance our strategy of more fully realizing the operating leverage of our business model through scale and manufacturing cost efficiencies, while creating highly attractive opportunities to drive revenue growth through heightened cross-selling platforms and extending our reach into underserved adjacent markets that demand uncompromised safety, service, reliability, and quality. I am confident that with Electrochem we will further increase our value to our customers and significantly strengthen our competitive position in our end markets,” said Mike Manna, President and Chief Executive Officer.
Based in Raynham, MA and with over forty years of battery technology experience in critical applications, Electrochem designs and manufactures primary lithium metal and ultracapacitor cells and battery packs serving energy, military and various environmental, industrial and utility end markets on a global basis. For the trailing twelve-month period ended September 30, 2024, Electrochem recorded revenue of $34 million.
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