Elbit Systems completed the acquisition of Sparton from Cerberus Capital Management for $380m.

Elbit Systems, a defense electronics company, completed the acquisition of Sparton, a provider of design, development and manufacturing services for complex electromechanical devices, from Cerberus Capital Management, a private equity firm, for $380m. “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 US. We believe that the completion of this acquisition will be beneficial for both Elbit Systems’ and Sparton’s employees and customers,” Bezhalel Machlis, Elbit Systems President & CEO.