Creonix assets acquired
Sparton Electronic Devices, LLC , a subsidiary of Sparton Corporation, has acquired certain assets of Creonix, a $12 million revenue business, on June 6, 2013 in an all-cash transaction.
A press release said that Creonix, located in Bradenton, Florida, primarily manufactures complex electromechanical devices and engineers and manufactures cables and wire harnesses for the industrial, military and aerospace markets. It said that its range includes products and components for battery monitoring, high speed optical imaging, neuromuscular incapacitation, imaging and wiring assemblies for military applications, and electrical grid transformer protection systems. It added that "the company has a northeast sales office in New Milford, Connecticut, and a solid new business development pipeline of new and existing customers."
"The addition of Creonix meets the criteria of our growth strategy by providing the additional capability of cable and wire harness engineering and assembly, further expansion into the industrial and military and aeronautic markets, diversification of our customer base, and the increased utilization of our existing assets," Sparton President and CEO Cary B. Wood said in the release.
The release said that Creonix will move into a Sparton location.