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Business/Financial

Elbit America To Acquire Navy Contractor Sparton

By Cal Biesecker

Wednesday, January 6th, 2021

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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…

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