Ultra Electronics to Acquire Sparton

Ultra Electronics Holdings plc announced that it has agreed to acquire Sparton Corporation for $23.50 per share or an equity value of $234.8 million.  The deal equates to a pro forma FY2016 EV/EBITDA multiple of 7.6x.  Based in Schaumburg, Illinois, Sparton provides sophisticated engineered products and manufacturing services for electromechanical devices to clients in markets including aerospace, military, medical, biotechnology and industrial.   Wells Fargo Securities and Raymond James & Associates represented Sparton while RBC advised Ultra electronics.