M&A

Elbit Systems' U.S. arm completes $380M Sparton buy

Elbit Systems’ U.S. subsidiary has completed its $380 million acquisition of Sparton Corp., a maker of electronic systems and sonobuoys for the Navy and other allied military organizations.

Now owned by Elbit Systems of America, Sparton De Leon Springs will operate as a subsidiary of its acquirer with an independent board of directors so it can focus on undersea business activities at higher levels of sensitivity, Elbit Systems of America said Tuesday.

The new proxy board members are veteran defense sector executives Kenneth Krieg and Brett Lambert, plus retired Navy admiral Timothy Keating. Sparton CEO Bill Toti remains president of Sparton De Leon Springs.

Elbit Systems of America already operates under a special security agreement with the Defense Department so the company can pursue certain classified programs.

Sparton’s Aydin displays and stealth divisions will operate under Elbit Systems of America’s existing security structure.

About the Author

Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at rwilkers@washingtontechnology.com. Follow him on Twitter: @rosswilkers. Also connect with him on LinkedIn.

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