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Elbit Systems of America Completes Acquisition of Sparton Corporation


Elbit Systems of America Completes Acquisition of Sparton Corporation
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HAIFA, Israel, April 6, 2021 /PRNewswire/ Elbit Systems of America, LLC ( Elbit Systems of America ) has completed the acquisition of Sparton Corporation ( Sparton ) from an affiliate of Cerberus Capital Management, L.P. for $380 million, subject to customary price adjustments, resulting in a significant expansion of Elbit Systems of America in the United States.
Sparton, with its 120-year history and decades of defense experience spanning from World War I to today, is a U.S.-based premier supplier of critical undersea warfare solutions to the U.S. Navy and its allies, as well as engineered products for the defense industry. ....

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Elbit Systems' U.S. arm completes $380M Sparton buy -- Washington Technology


By Ross Wilkers
Apr 06, 2021
Elbit Systems’ U.S. subsidiary has completed its $380 million acquisition of Sparton Corp., a maker of electronic systems and sonobuoys for the Navy and other allied military organizations.
Sparton has changed its name to Sparton De Leon Springs and will operate as a subsidiary of its acquirer with an independent board of directors so it can focus on undersea business activities at higher levels of sensitivity, Elbit Systems of America said Tuesday.
The new proxy board members are veteran defense sector executives Kenneth Krieg and Brett Lambert, plus retired Navy admiral Timothy Keating. Sparton CEO Bill Toti has transitioned over to be president of the new Sparton De Leon Springs entity. ....

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