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Sparton Corp. Acquires Delphi
Contract manufacturer Delphi Medical Systems has been acquired by Sparton Corp. (Schaumburg, IL). Sparton, a supplier of electronic and electromechanical products and subassemblies, purchased the contract manufacturing business in an all-cash transaction valued at $8 million. It expects the acquisition of Delphi to boost its annual revenue by $32 million.
Lawrence Lloyd
August 6, 2010
1 Min Read
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Delphi specializes in the manufacture of finished devices for the therapeutic market, including blood separation equipment, spinal surgery products, and 3-D eye-mapping devices. The firm also offers engineering and manufacturing support.
“The addition of this business meets the criteria of our growth strategy by providing expansion into the therapeutic device market and diversifying our customer base, while also expanding our geographic reach into the western United States,” says Cary Wood, Sparton’s president and CEO.
The company also expects the acquisition to enhance its business development activities, thanks to additional personnel and the manufacturing representative relationships that come with them.
The transaction is expected to close by mid-August.
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