What is Sparton?
Founded in 1900 and headquartered in Schaumburg, Illinois, Sparton operates as a defense contractor and contract manufacturer. The company specializes in the design, manufacturing, and distribution of outsourcing solutions for OEMs. Its product portfolio includes advanced systems such as microprocessor-based units, transducers, printed circuit boards, and sensors, with a notable focus on the development and manufacturing of sonobuoys. Sparton's long-standing history and diverse product offerings position it as a key player in the defense supply chain, catering to complex and critical technological needs.
How much funding has Sparton raised?
Sparton has raised a total of $200M across 1 funding round:
Debt
$200M
Debt (2014): $200M with participation from BMO Harris Bank N.A., Wintrust Bank, Suntrust Bank, Associated Bank, N.A., Bank of America, N.A., Keybank National Association, Fifth Third Bank, and US Bank National Association
Key Investors in Sparton
Wintrust Bank
Wintrust Financial Corporation is a prominent financial holding company headquartered in the Chicago metropolitan area that operates through a unique community banking model combined with specialty finance businesses. The company owns and operates a family of community banks serving the Chicagoland area, southern Wisconsin, and northwest Indiana, each maintaining its own local identity, management team, and community focus while benefiting from the resources and infrastructure of the larger organization.
Associated Bank, N.A.
Founded in 1861 and headquartered in Green Bay, Wisconsin, Associated Banc-Corp is a Midwest banking franchise, offering a full range of financial products and services. Some of their services include retail banking, commercial banking, and commercial real estate lending.
Fifth Third Bank
Fifth Third Bancorp, founded in 1858 and headquartered in Cincinnati, Ohio, is the holding company for Fifth Third Bank, offering a broad range of financial services across Commercial Banking, Consumer and Small Business Banking, and Wealth & Asset Management.
What's next for Sparton?
With the recent major strategic investment, Sparton is poised to enhance its manufacturing capabilities and potentially expand its product development pipeline. The substantial capital secured, including $200M overall, suggests a strategic focus on scaling operations, investing in advanced technologies, and potentially pursuing new defense contracts. This financing is indicative of Sparton's current lifecycle stage, likely geared towards significant growth and market expansion within the defense industry. Future endeavors may involve further integration of its specialized manufacturing services and strengthening its position as a critical supplier for defense applications.
See full Sparton company page
