Sparton Corporation (SPA) announced that on August 30 its wholly owned subsidiary, Sparton Aydin, completed the transaction to acquire certain assets and liabilities of Aydin Displays, an $18M revenue business, in an all-cash transaction. Aydin Displays is a subsidiary of Video Display Corp. (VIDE) that develops enhanced flat panel display and touch-screen solutions with application-critical performance criteria for the Military & Aerospace and Civil Marine. The transaction was funded through Sparton’s existing cash balances and borrowings under the credit facility currently in place with BMO Harris Bank.
- Mergers, Acquisitions & Takeovers
- wholly owned subsidiary