New Wave Media

April 6, 2021

Elbit Systems Completes Acquisition of Sparton for $380M

Image courtessy Elbit Systems Ltd.

Image courtessy Elbit Systems Ltd.

Elbit Systems Ltd. announced that its U.S. subsidiary, Elbit Systems of America, LLC, completed the acquisition of Sparton Corporation from an affiliate of Cerberus Capital Management, L.P. 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 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, 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.”  

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