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Sparton Acquires Medical Tech, Biotech Provider Aubrey Group; Cary Wood Comments

acquisitionDesign and manufacturing firm Sparton (NYSE: SPA) has acquired the Aubrey Group, an Irvine, Calif.-based provider of products for medical and biotechnological equipment manufacturers.

The acquisition is expected to increase Sparton’s annual revenue by $8 million, Sparton said Tuesday.

Cary Wood, president and CEO of Sparton, said Aubrey Group’s offerings will be added to Sparton’s portfolio in an effort to expand its services throughout the product lifecycle.

Vytas Pazemenas founded Aubrey Group in 1994 and the company has since been developing medical device controllers and display subsystems, radio frequency generator systems, pumps and disposables.

Sparton funded the transaction with credit facility borrowings from BMO Harris Bank, while B. Riley & Co. LLC served as financial adviser to Aubrey Group.

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