Sparton to Buy Beckwood in All-Cash Deal PDF Print E-mail
Written by Mike Buetow   
Friday, 13 December 2013 11:21

SCHAUMBURG, IL -- A Sparton subsidiary has entered into a definitive purchase agreement to acquire fellow EMS Beckwood Services for an undisclosed amount.

Sparton Beckwood will acquire Beckwood Services in an all-cash transaction funded through Sparton’s existing cash balances and borrowings under an existing credit facility. The deal is expected to be accretive to earnings within the first 12 months.

Beckwood Services manufactures electro-mechanical controls and electronic assemblies for the industrial control, analytical instruments, measurement and military markets. It has annual revenues of $18 million.

"The addition of Beckwood Services meets aspects of our growth strategy by providing Sparton’s entrance into the Northeast geographic market as well as adding industrial control capabilities that further enhances our offerings within the electromechanical value stream,” said Cary B. Wood, president and chief executive of Sparton. “As Sparton continues to implement its strategic growth plan, we plan to achieve our growth expectations by focusing on new business development, internal product research and development, and complementary and compatible acquisitions.”

 

 

 

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