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Saturday, Dec 9, 2023

Wyle to Buy Alabama Defense Contractor

Wyle Inc., the El Segundo aerospace services and engineering company, said late Monday that it agreed to purchase an Alabama military contractor.

CAS Inc., a Huntsville division of ITT Corp., provides systems engineering and technical assistance services mainly to the U.S. Department of Defense. The $235 million deal is expected to close by year’s end. Wyle said it will finance the deal with cash on hand, about $20 million of equity from Court Square Capital Partners and affiliates, in addition to about $200 million of incremental debt.

The announcement comes about a year after New York private equity firm Court Square Capital Partners purchased Wyle from Littlejohn & Co. of Greenwich, Conn.

&#8226 Read the full Daily Breeze story.

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