Wyle Buys Defense Co. CAS From ITT For $235M

Law360, New York (August 9, 2010, 1:12 PM EDT) -- Wyle Inc. announced Monday it has purchased defense and aerospace contractor CAS Inc. from ITT Corp. for $235 million.

El Segundo, Calif.-based Wyle said it would fund the acquisition with cash on hand; approximately $20 million in equity from its controlling shareholder, private equity firm Court Square Capital Partners; and the addition of $200 million in incremental debt.

Wyle, which provides specialized engineering, scientific and technical services to government agencies including NASA and the U.S. Department of Defense, sees the deal as a chance to drastically...
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