Sparton Corporation announced that it has engaged Wells Fargo Securities LLC to find it a buyer. This development comes after the company’s CEO and SVP for Corporate Development abruptly left the company in February. Sparton, a provider of electromechanical devices and contract manufacturing services to both industry and the military, was itself a serial acquirer during the last few years (find their deals in our M&A database). Unfortunately for the company, some of the challenges brought on by the acquisitions has led it to being put on the auction block.
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