RBC Bearings has initiated their acquisition of Dover’s Sargent Aerospace & Defense by signing the $500 million deal. This is the first company to be acquired by RBC Bearings within the last 15 months, with the last being Western Precision Aero LLC, Climax Metal Products Company, and Turbine Components Inc. in 2013. Financed through cash and senior debts, the finalization of the acquisition looks to be completed in the fiscal first quarter of 2016.
The aerospace and defense revenues of RBC Bearings saw a decline in the last quarter due to contraction in their distribution activities. With the acquisition of Sargent Aerospace & Defense, RBC Bearings looks to strengthen their aerospace and defense trade and product portfolio. An estimated 25-35 cents per share of the company is expected to be contributed by the acquirement along with $7.5 million of synergies over the next five years.
Founded in 1920, Sargent Aerospace & Defense is a worldwide supplier of precision engineered components and aftermarket services. As a subsidiary of Dover Engineered System, Sargent’s products and services are used widely in the aerospace and defense industry through OEMs and MROs. Their specialty services include performing critical functions on commercial and military aircraft, submarines, and land-based vehicles. Sargent manufactures, sells, and services hydraulic valves and actuators, specialty bearings, specialty fasteners, seal rings & alignment joints, and precision components under leading brands including Kahr Bearing, Airtomic, and Sonic Industries. The company is headquartered in Tucson, Arizona, employs over 750 people, and has five facilities in North America, a manufacturing facility in Mexico, and an engineering design support center in India.
RBC Bearings Incorporated manufactures and markets highly engineered precision bearings and components. Established in 1919, the company is headquartered in Oxford, Connecticut and employs over 2,500 people. Their influence is on a worldwide scale as they operate 25 manufacturing facilities in five countries.
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