Elbit Systems Ltd. announced today, further to the Company’s announcement of December 23, 2020, that its U.S. subsidiary, Elbit Systems of America, LLC (“Elbit Systems of America”), completed the acquisition of Sparton Corporation (“Sparton”) from an affiliate of Cerberus Capital Management, L.P. for a purchase price of $380 million. 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. The closing follows receipt of all the required approvals, including receipt of U.S. Government and regulatory approvals.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “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 Sparton’s employees and customers.
Sparton designs, develops, and produces a range of advanced proprietary products for domestic and foreign defense, and commercial needs. The company is comprised of three divisions: Undersea Warfare Solutions, Aydin Displays, and Stealth. Sparton Undersea Warfare Solutions (“UWS”) division is a world leader in the design, development, testing and production of complex maritime systems, including mission-critical sonobuoys, in support of Anti-Submarine Warfare. Additionally, UWS manufactures other cutting-edge submarine deployed products supporting ASW and depth-rated encapsulated systems to support Subsea and Seabed Warfare.
Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions.