Sparton Corp. explores potential sale

Business Wire

SCHAUMBURG - Sparton Corp.'s board of directors has authorized Wells Fargo Securities to conduct a process to identify parties interested in acquiring the company.

The decision was made after the board considered a number of options presented by Wells Fargo upon the completion of a strategic alternative review engagement, the company said in a release. Sparton is working with Wells Fargo to prepare necessary marketing materials and expects to begin engaging with interested parties by the end of June.

The board noted that there can be no assurance that the process will result in the announcement or consummation of any transaction, has not set a definitive timetable for its completion, and does not intend to disclose further developments until the board determines it appropriate to do so.

The 116-year-old company develops and manufactures electromechanical devices for the medical, biotechnology, military, aerospace, industrial and commercial markets.