Dover has completed the sale of its Sargent Aerospace & Defense unit to RBC Bearings for $500m.
The sale is in line with the company’s strategy to focus on key growth spaces and end-markets.
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Arizona-headquartered Sargent serves aircraft airframes and engines, rotorcraft, submarines and land vehicles manufacturers with precision-engineered components and aftermarket services.
The company offers hydraulic valves and actuators, specialty bearings, specialty fasteners, seal rings and alignment joints, as well as precision components under Kahr Bearing, Airtomic, Sonic Industries, Sargent Controls, and Sargent Aerospace & Defense brands.
Sargent has a workforce of more than 750 across its six facilities in three countries, and generates annual revenues of $195m.
Last month, Dover and RBC Bearings signed a deal for the transaction.
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By GlobalDataDover president and CEO Robert Livingston earlier said: "Sargent has a long track-record of providing innovative products and solutions to its customers."
According to RBC Bearings, Sargent’s manufacturing processes and design expertise complements its existing capabilities.
The company financed the acquisition through a combination of cash on hand and senior debt.
As a combined company, RBC Bearings expects earnings accretion of up to $0.35 per diluted share for the first twelve months of operations, and $78m in tax benefits based on NPV.
