RBC Bearings to acquire Dover’s Sargent aerospace, defense business

Oxford, Connecticut – RBC Bearings Inc., an international manufacturer of highly-engineered precision plain, roller, and ball bearings for the industrial, defense, and aerospace industries, has entered into a definitive agreement to acquire the Sargent Aerospace & Defense business (Sargent) of Dover Corp. for $500 million, to be financed through a combination of cash on hand and senior debt. The transaction is expected to close in the second calendar quarter of 2015, subject to customary closing conditions, including regulatory review.

 

“We are adding a very talented Sargent team who are experts in these products and we are excited to welcome those valued employees to the growing RBC Bearings team.”

 

“Today we are very pleased to announce the execution of an agreement between a subsidiary of Dover Corporation and RBC Bearings to acquire Sargent Aerospace & Defense. Sargent supplies highly engineered products to a customer base that we know well and serve daily. Their manufacturing processes and design expertise align very well with and complement those of RBC Bearings,” said RBC Bearings chairman, president and chief executive officer, Dr. Michael J. Hartnett. “We are adding a very talented Sargent team who are experts in these products and we are excited to welcome those valued employees to the growing RBC Bearings team.”

 

With headquarters in Tucson, Arizona, Sargent offers precision-engineered products, solutions, and repairs for aircraft airframes and engines, rotorcraft, submarines, and land vehicles. The company 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, Sonic Industries, Sargent Controls, and Sargent Aerospace & Defense. Annual sales are approximately $195 million and the company has more than 750 employees in six facilities in three countries.

 

RBC Bearings currently employs approximately 2,510 people and operates 25 manufacturing facilities in five countries.