RBC Bearings to Acquire Dover’s Sargent Aerospace & Defense Business

RBC Bearings Incorporated, a leading international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, announced that it has entered into a definitive agreement to acquire the Sargent Aerospace & Defense business (“Sargent”) of Dover Corporation 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 (our fiscal first quarter of 2016), subject to customary closing conditions, including regulatory review.

“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.