M&A Deal Summary

Litton Industries Acquires Sperry Marine

On August 21, 1996, Litton Industries acquired technology hardware company Sperry Marine from J.F. Lehman & Company for 160M USD

Acquisition Highlights
  • This is Litton Industries’ 1st transaction in the Technology Hardware sector.
  • This is Litton Industries’ largest (disclosed) transaction.
  • This is Litton Industries’ 1st transaction in the United States.
  • This is Litton Industries’ 1st transaction in Virginia.

M&A Deal Summary
Date 1996-08-21
Target Sperry Marine
Sector Technology Hardware
Buyer(s) Litton Industries
Sellers(s) J.F. Lehman & Company
Deal Type Add-on Acquisition
Deal Value 160M USD

Target

Sperry Marine

Charlottesville, Virginia, United States
Sperry was established as a supplier to the U.S. Navy and is a world leader in the design, development, manufacture, service and supply of advanced electronics navigation and guidance systems for maritime and aircraft uses.

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Buyer(S) 1

Buyer

Litton Industries

Woodland Hills, California, United States
Category Company
Sector Aerospace
Employees40,300
DESCRIPTION

Litton Industries, Inc., provides services in sectors, Ship Systems, Information Systems, Advanced Electronics.

DEAL STATS #
Overall 1 of 1
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (1996) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-01-01 Menumaster

United States

Menumaster, Inc. is a manufacturer of microwave ovens for use in vending and foodservice application.

Sell -

Seller(S) 1

SELLER

J.F. Lehman & Company

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

JF Lehman is a specialist private equity firm that targets investments in the defense, aerospace and maritime industries. JF Lehman looks for lower middle-market company opportunities with established products but that not may not be realizing their full potential. The Firm will only consider control based investment situations. J.F. Lehman was formed in 1992 and has offices in New York, London, and Washington DC.

DEAL STATS #
Overall 2 of 27
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 11
State (Virginia) 1 of 2
Country (United States) 2 of 26
Year (1996) 1 of 1
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-04-06 Elgar Electronics

San Diego, California, United States

Elgar Electronics Corp. is a designer and manufacturer of AC and DC programmable power supplies, Elgar's products are used in designing and testing power-sensitive electronics that must operate in environments where power quality is uncertain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-08-13 Burke Industries

San Jose, California, United States

Burke Industries, Inc. is a supplier of military elastomer products and is a leading diversified manufacturer of highly engineered rubber, silicone and vinyl-based products for the aerospace, defense, commercial flooring, heavy-duty truck and fluid containment industries.

Buy -
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