Schaumburg, Illinois-based Sparton Corporation’s wholly owned subsidiary, Sparton of Canada, Ltd. has acquired substantially all of the assets of Stealth.com Inc., a CD$10-million revenue business on March 16, 2015, in an all-cash transaction.
Founded in 1990, Stealth.com, located in Woodbridge, Ontario, is a build-to-order, specialty configurator of high-performance ruggedized industrial grade computer systems and peripherals, including mini PCs, rack-mount server PCs, portable PC, and LCD touchscreen displays. These products service the military, government, industrial and commercial markets.
"The addition of the Stealth.com business meets the criteria of our growth strategy by further expanding our engineered components and products offering in the ruggedized electronics space,” stated Cary B. Wood, president and chief executive officer of Sparton. “Stealth.com complements our existing offerings under Aydin Displays and KEP Marine, allowing us to serve a wider breadth of customers with a greater variety of products and services.”
Wood added, “Stealth.com marks our fourth acquisition in a market space where we did not have a presence 15 months ago. We have amassed a business in which we expect synergies to benefit our customers, our operations and our product development. Stealth.com’s revenue is expected to enhance the company’s engineered components and products segment EBITDA and be accretive to earnings within the next nine to twelve months, once integration activities are completed.”
The transaction was funded through Sparton’s borrowings under the credit facility currently in place.