AFA 2021: Elbit America eyes more acquisitions

Elbit Systems of America was an exhibitor at the Air Force Association's 2021 Air, Space, & Cyber Conference near Washington, DC. (Marc Selinger)

Elbit Systems of America is still exploring possible acquisitions after completing two such deals in the past two years, according to the head of the company.

“We're actively looking at potential opportunities,” said Raanan Horowitz, Elbit America's president and CEO. “There's nothing really imminent right now, but we're in conversations and evaluations.”

Elbit America, the US subsidiary of Israel's Elbit Systems, is considering transactions that would enhance its capabilities in areas such as electro-optics, electronic warfare, maritime, and radars, Horowitz told Janes on 21 September at the Air Force Association's (AFA's) annual conference at National Harbor, Maryland, near Washington, DC.

Elbit America is open to deals that are similar in size to its recent ones, Horowitz said. The company acquired US naval electronic systems producer Sparton Corporation for USD380 million in April and the US-based Harris Night Vision business for USD350 million in September 2019.

“We've definitely demonstrated that we are a serious buyer, that we have the financial capabilities to make these acquisitions,” Horowitz said. “We also demonstrated the ability to get US government approval and support for these.”

Elbit America is pleased with the recent additions. The Night Vision business “is now firmly part of our family, and now we're looking to how we're going to expand”, such as by integrating Night Vision's equipment with other warfighter systems, Horowitz said. The Sparton purchase has given Elbit America a foothold in the undersea warfare domain.

Acquisitions are not new for Elbit America. Founded in 1991, the company conducted its first acquisition two years later by buying a General Dynamics electronics factory in Fort Worth, Texas.