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Ultra Electronics, Sparton Call Off Merger

Schaumburg, Illinois-based military electronics manufacturer Sparton (NYSE: SPA) and U.K.-based defense contractor Ultra Electronics have decided to abandon their $234 million merger agreement because of antitrust concerns from the Justice Department. Sparton said Monday it plans to resume negotiations with parties that previously showed interest in an acquisition deal and can immediately execute …

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Foreign Investment Committee Completes Ultra Electronics-Sparton Transaction Review

The Committee on Foreign Investment in the U.S. has finalized its review of the proposed acquisition of Schaumburg, Illinois-based electromechanical technology company Sparton (NYSE: SPA) by U.K.-based defense and aerospace contractor Ultra Electronics. Ultra said Monday it signed a timing agreement with the Justice Department and that the deal is still subject to antitrust …

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Ultra Electronics Agrees to Purchase Sparton

U.K.-based defense and aerospace equipment manufacturer Ultra Electronics has agreed to acquire Schaumburg, Illinois-based electromechanical technology provider Sparton  (NYSE: SPA). Sparton said Friday the transaction is valued at $23.50 per share and that it expects to complete the sale by Jan. 1, 2018. Joseph Hartnett, interim president and CEO of Sparton, said the deal …

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Sparton, Ultra Electronics Holdings JV to Produce Sonobuoys for US Navy; Rakesh Sharma Comments

ERAPSCO, a joint venture of Sparton Corp. (NYSE: SPA) and Ultra Electronics Holdings, has received a pair of subcontracts worth up to $30.3 million over five years to supply sonobuoys to the U.S. Navy. Sparton said Thursday ERAPSCO will provide production subcontracts worth $18.5 million and $11.8 million to Ultra Electronics USSI …

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Sparton-Ultra Electronics JV Lands $101M Navy Sonobuoys Order; Joseph Hartnett Comments

ERAPSCO, a joint venture of Sparton Corp. (NYSE: SPA) and Ultra Electronics, has received a five-year, $101.1 million contract to produce sonobuoy sonar systems for the U.S. Navy. Ultra Electronics USSI and Sparton De Leon Springs will manufacture the sonobuoys under production subcontracts from ERAPSCO worth $46.8 million and $54.3 million, …

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Rakesh Sharma: Ultra Electronics-Sparton JV Secures $87M Navy Sonobuoy Manufacturing IDIQ

Sparton (NYSE: SPA) and Ultra Electronics Holdings’ ERAPSCO joint venture has been awarded a five-year, $87 million contract to manufacture sonobuoys for the U.S. Navy. Rakesh Sharma, CEO of Ultra Electronics, said Monday the contract reflects the Navy’s “increased focus on anti-submarine warfare and ‘pivot to the Pacific.’” ERAPSCO will …

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

Design 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 …

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ERAPSCO Awarded $220M Navy Sonobuoy Contract Modification

ERAPSCO has received a three-year, $219.8 million contract modification to manufacture 166,500 signal underwater sound sonobuoys for U.S. Navy anti-submarine warfare missions. The Defense Department said Tuesday the company will supply AN/SSQ 36, AN/SSQ-53, AN/SSQ-62, AN/SSQ-101, AN/SSQ-125 and MK-84 sonobuoy units to the service branch. Contract work will occur in Florida and Indiana …

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ERAPSCO Secures $65M Navy Sonobuoy Production Funds

ERAPSCO, a joint venture between Ultra Electronics and Sparton (NYSE: SPA), has been awarded $64.6 million in contract funds to continue manufacturing sonobuoys for the U.S. Navy. The Ultra Electronics USSI and Sparton De Leon Springs businesses will respectively receive $29.3 million and $35.3 million subcontracts as part of the GFY17 ERAPSCO indefinite-delivery, indefinite-quantity contract, …

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Navy Exercises $204M Option on ERAPSCO Sonobuoy Procurement Contract

ERAPSCO, a joint venture of Sparton Corp. (NYSE: SPA) and Ultra Electronics, has received a $203.7 million contract modification to produce additional sonobuoys for the U.S. Navy. The modification exercises an option on a previously awarded indefinite-delivery/indefinite-quantity contract and covers the procurement of up to 6, 000 AN/SSQ-36, 95, 000 AN/SSQ-53, 15, 500 …

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