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.

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