Elbit Systems of America LLC has completed the acquisition of Sparton Corporation from an affiliate of Cerberus Capital Management LP for $380 million.
Raanan Horowitz, president and CEO of Elbit Systems of America “Acquiring Sparton, one of the primary American suppliers of sonobuoys, as well as other undersea warfare products, provides us with another significant franchise and an expansion of our business with the U.S. Navy and within the U.S. Sparton has been and will continue to be led by a strong and capable management team, and has a good reputation with the U.S. Navy customer. I believe this acquisition will have a positive impact on our growth in both the near and long-term as we continue to invest in Sparton and work to expand its business portfolio and capabilities.”
“Demand for our undersea warfare products is increasing as a result of a heightened threat environment in both the Indo-Pacific and Atlantic,” said Bill Toti, president of Sparton De Leon Springs LLC, an Elbit Systems of America company. “With Elbit Systems of America’s support, we will continue to be well positioned to capitalize on growing opportunities in the undersea environment with our leading technology and distinctive capabilities.”