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Electronics Production |
Sparton completes the sale of its contract manufacturing unit
Sparton Corporation says it has completed the sale of its contract manufacturing unit, Manufacturing & Design Services (MDS), to One Equity Partners. In conjunction with the closing of the transaction, the MDS business has been rebranded as Spartronics.
With the completion of the transaction, Sparton is now focused on its engineered defence products business, Engineered Components & Products (ECP), which designs, develops, and produces solutions for defence and commercial needs. Sparton will remain a partner in its ERAPSCO joint venture, which manufactures sonobuoys and transducers for the U.S. Navy.Bill Toti, formerly President and Chief Executive Officer of Sparton ECP, has assumed the role of President and Chief Executive Officer of Sparton.
“This is an exciting next chapter for Sparton as well as our global customers,” says Mr. Toti, in a press release. “With our decades of experience and market-leading capabilities, we have developed deep relationships with governments and leading businesses around the world. As a pure-play defence supplier, we are well-positioned to build on this strong foundation and drive innovation to meet the defence and commercial needs of our customers. Sparton has a bright future and I look forward to working with our talented team as we execute on the many opportunities ahead.”No further detail regarding the transaction has been released
