By Ross Wilkers
Dec 23, 2020
Elbit Systems’ U.S. subsidiary has agreed to acquire electronic system and sonobuoy maker Sparton Corp. for $380 million to gain an increased footprint with the Navy and other allied military services.
In a release Wednesday, Elbit Systems of America said the necessary regulatory approvals could require “a number of months” to get through before deal closure.
Sparton focuses on products for undersea warfare and ruggedized displays for defense and industrial use.
De Leon Springs, Florida-based Sparton was acquired in 2019 by private equity firm Cerberus Capital Management, which has since supported the contractor in the divestiture of its contract manufacturing business to become a pure-play defense supplier.