Sparton Corporation, a DeLeon Springs-based provider of sonobuoys for the U.S. Navy and engineered products for the defense industry, was recently acquired by Elbit Systems of America LLC from an affiliate of Cerberus Capital Management L.P. for $380 million.
The acquisition results in a significant expansion of Elbit Systems of America in the United States, according to a news release.
Sparton, with a 120-year history and decades of defense experience from World War I to today, is a premier supplier of critical undersea warfare solutions to the U.S. Navy and its allies, as well as engineered products for the defense industry.
“We welcome Sparton’s employees to the Elbit Systems of America family. Acquiring Sparton, one of the primary American suppliers of sonobuoys as well as other undersea warfare products, provides us with another significant franchise and an expansion of our business with the U.S. Navy and within the U.S.,” Raanan Horowitz, president and CEO of Elbit Systems of America, said in the release. “Sparton has been and will continue to be led by a strong and capable management team, and has a good reputation with the U.S. Navy customer. I believe this acquisition will have a positive impact on our growth in both the near and long term as we continue to invest in Sparton and work to expand its business portfolio and capabilities.”
Bill Toti will continue as president and chief executive of Sparton De Leon Springs LLC.
“Demand for our undersea warfare products is increasing as a result of a heightened threat environment in both the Indo-Pacific and Atlantic,” Toti said in the news release. “With Elbit Systems of America’s support, we will continue to be well-positioned to capitalize on growing opportunities in the undersea environment with our leading technology and distinctive capabilities.”
Sparton Corporation announced last fall that it had relocated its headquarters from Schaumburg, Illinois, to its primary manufacturing facility in De Leon Springs.
“Sparton has had a significant presence in De Leon Springs for more than three decades and we have always been impressed with the talent, expertise and dedication of the workforce in our De Leon Springs facility,” Toti said in an October announcement. “Several of our employees have been here for more than 30 years and we are proud to formally recognize De Leon Springs as our headquarters.”
Also last fall, Sparton completed a major overhaul of its wastewater treatment plant, which helps preserve the delicate watershed that feeds a natural spring at nearby DeLeon Springs State Park.
Fort Worth, Texas-based Elbit Systems of America is a leading provider of high-performance products, system solutions, and support services focusing on the defense, homeland security, law enforcement, commercial aviation, and medical instrumentation markets.
Elbit Systems of America is wholly owned by Elbit Systems Ltd., a global high-technology company engaged in a wide range of programs for innovative defense and commercial applications.