Sparton Corporation has acquired Argotec Inc. this month in an all-cash transaction. Sparton is a provider of electromechanical device design, manufacturing, field service and refurbishment.
Argotec develops and manufactures sonar transducers for the U.S. Navy and other clients. The company will be consolidated into the Navigation & Exploration (NavEx) segment of Sparton.
“Although not material in size, Argotec brings valuable intellectual property to our NavEx segment, as well as a consistent single-sourced revenue stream for key military end applications, further enhancing our growth opportunities,” says Cary B. Wood, president and chief executive officer of Sparton. “As we enhance our current product offerings with these newly acquired products and components, we will explore new engineering development opportunities within the U.S. Navy, foreign naval operations and prime defense contractors.”
For more information, visit Sparton Corporation.
Sources: Press materials received from the company and additional information gleaned from the company’s website.