Tue, 6 April 2021 |
Elbit Systems Completes Acquisition of Sparton
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Elbit Systems' U.S. subsidiary, Elbit Systems of
America, has completed the acquisition of Sparton Corporation from
an affiliate of Cerberus Capital Management for a purchase price
of $380 million.
The closing follows receipt of all the required
approvals, including receipt of U.S. Government and regulatory
approvals.
Headquartered in De Leon Springs, Florida, U.S.,
Sparton is a premier developer, producer and supplier of systems
supporting Undersea Warfare for the U.S. Navy and allied military
forces.
Bezhalel (Butzi) Machlis, Elbit Systems President
& CEO, said, The growing importance of the maritime arena
and the market position and technological strength of Sparton make
this acquisition significant to our long-term growth strategy,
with a particular focus on the U.S. We believe that the completion
of this acquisition will be beneficial for both Elbit Systems and Spartons employees and customers.
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