Aerospace Group:

Business/Financial

Elbit America To Acquire Navy Contractor Sparton

By Cal Biesecker

Wednesday, January 6th, 2021

SHARE:

Elbit America To Acquire Navy Contractor Sparton

Sparton manufactures sonobuoys. (Photo: Sparton)

Israel’s Elbit Systems [ESLT] in December said its U.S. subsidiary Elbit America has agreed to acquire defense contractor Sparton Corp. for $380 million in a deal that expands the company’s work on naval systems. Elbit is acquiring Florida-based Sparton from the private equity firm Cerberus Capital Management, which acquired Sparton in early 2019 and took the company private. “The acquisition of Sparton will strengthen Elbit Systems of America’s capabilities and will enable expansion of activities in the naval arena,” Bezhalel…

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]

Congress

“Not Sure How They Get To Where They Wanna Be,” Calvert Says of $1.5 Trillion Defense Topline Proposal

As the federal government enters a third week of tardiness in a fiscal 2027 budget release, a big question is how the Pentagon will be able to spend $500 billion […]

Congress

Path Uncertain For $1.5 Trillion FY ‘27 Defense Topline After Trump Casts Doubt On Second Reconciliation Bill

The path to achieve the White House’s call for a $1.5 trillion defense topline in 2027 appears murkier now after President Donald Trump has cast doubt on the prospects of […]

Congress

Senate Budget Dems Push For Defense Reconciliation Spending Details, Cite ‘Slush Fund’ Concerns

Democrats on the Senate Budget Committee have raised “significant concern” with the Pentagon’s move to classify reconciliation spending plans, urging the department to provide more public details on how the […]