Accutronics

BUSINESS OVERVIEW

Accutronics is a bespoke battery manufacturer based in Newcastle-under-Lyme specialising in developing and assembling custom designed power solutions for high-end global OEM businesses, primarily in the medical sector.

Over several years the Chinese state-owned parent company had transferred turnover and volume, production and profit contribution, to another group company. The impact of this was to deprive the business of its cash generation and create strategic uncertainty.

OUR ROLE

Intrinsic worked with the General Manager for several months to deliver a solution to acquire the business.

We led the deal as principal to acquire the trade and assets of the business for fair value putting together an equity funding solution alongside the General Manager.

The strategic focus was directed on the medical sector and on the development of its own brand of products for value enhancement.

Intrinsic completed the management team with experienced individuals to help enable the growth.

Accutronics grew significantly during the six years Intrinsic were invested, generating a revenue of over £8m for the year ended August 2015.

In January 2016 Accutronics was acquired by US-based Ultralife Corporation for £7.6m representing a significant return on investment.