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Global law firm Reed Smith is representing EnerSys, a stored energy solutions company serving industrial, infrastructure, and defense customers, in connection with its acquisition of Ultralife Corporation, a provider of battery, power, communications, and compute solutions for government, defense, medical, energy, and industrial markets.
The all-cash transaction is structured as a tender offer to acquire all of the outstanding shares of Ultralife common stock at a price of $16.00 per share in cash at closing, representing a total enterprise value of approximately $320 million, including assumed net debt, and the transaction is expected to close in the first quarter of calendar 2027.
The acquisition advances EnerSys' strategy to build a broader defense power platform. Together, the companies will be well positioned to establish an integrated power solutions portfolio, increase scale, and broaden exposure to the defense market — with capabilities in munitions, soldier power, drones, counter drones, and autonomous systems. The combination will also deepen relationships with U.S. Department of War and allied country customers through a broader, FEOC-compliant product portfolio.
EnerSys will also be able to expand its advanced defense power technology portfolio with Ultralife's multi-chemistry capabilities, purpose-built advanced manufacturing capacity with existing security and environmental permits, and operational expertise to scale production of EnerSys' proprietary liquid reserve battery technology.
The Reed Smith deal team was led by Leigh Hansson, Jocelyne Kelly, Anne Peetz, Michelle Mantine, Anatoliy Rozental, and Ballard Yelton.
About Reed Smith
Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, we deliver smarter, more creative legal services that drive better outcomes for our clients. Our deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions, and regulatory matters.
