SCHAUMBURG, Ill., 19 March 2015. Sparton Corp.’s (NYSE:SPA) wholly owned subsidiary, Sparton of Canada Ltd., has acquired Stealth.com Inc., an Ontario-based manufacturer of built-to-order and custom-configured ruggedized computers and peripherals – such as mini PCs, rackmount server PCs, portable PCs, and touch-screen displays – for military, government, industrial, and commercial applications.
The Stealth.com acquisition is part of Sparton’s growth strategy, further expanding the company’s engineered components and products offering in the ruggedized electronics space, affirms Sparton President/CEO Cary B. Wood. “Stealth.com complements our existing offerings under Aydin Displays and KEP Marine, allowing us to serve a wider breadth of customers with a greater variety of products and services.”
Stealth.com President Ed Boutilier calls the transaction “the next step in the evolution of Stealth.com.” Stealth.com’s complementary product lines will join under Sparton’s Engineered Components & Products (ECP) business unit, he says.
“Stealth.com marks our fourth acquisition in a market space where we did not have a presence 15 months ago. We have amassed a business in which we expect synergies to benefit our customers, our operations, and our product development. Stealth.com’s revenue is expected to enhance the Company’s Engineered Components & Products segment EBITDA and be accretive to earnings within the next nine to 12 months, once integration activities are completed,” Wood explains.
The transaction was funded through Sparton’s borrowings under the credit facility currently in place.
Sparton Corp. (NYSE:SPA), now in its 115th year, is a provider of electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are medical & biotechnology, military & aerospace, and industrial & commercial. Headquartered in Schaumburg, Ill., Sparton currently operates nine manufacturing locations and four engineering design centers worldwide.