RBC Bearings Announces Closing of Sargent Aerospace & Defense Acquisition

OXFORD, Conn.--(BUSINESS WIRE)--

RBC Bearings Incorporated ROLL, a leading international manufacturer of highly-engineered precision bearings and components for the industrial, defense and aerospace industries, today announced that it has closed on the acquisition of the Sargent Aerospace & Defense business ("Sargent") of Dover Corporation DOV. The acquisition price of $500 million was financed through a combination of cash on hand and senior debt.

With headquarters in Tucson, Arizona, Sargent is a leader in 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 $195.0 million and the company has over 750 employees in six facilities in three countries.

Moelis & Company served as the exclusive financial advisor and Kirkland & Ellis LLP served as the legal advisor to RBC Bearings.

About RBC Bearings

RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings and components. Founded in 1919, the Company is primarily focused on producing highly technical or regulated bearing products requiring sophisticated design, testing, and manufacturing capabilities for the diversified industrial, aerospace, and defense markets. Headquartered in Oxford, Connecticut, RBC Bearings currently employs approximately 2,510 people and operates 25 manufacturing facilities in five countries.

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