RBC Bearings Announces Agreement to Acquire VACCO Industries from ESCO Technologies
RBC Bearings (NYSE: RBC) has announced a definitive agreement to acquire VACCO Industries from ESCO Technologies for $310 million in cash.
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- VACCO provides highly engineered mission-critical components and subsystems to the space and naval defense channels
- Customers and partners expected to benefit from the combined design, engineering and manufacturing expertise and broader integrated capabilities of both companies
- Expands product breadth and capacity in two of RBC’s fastest growing channels
With headquarters in
“VACCO has a tremendous amount of design, engineering and manufacturing capabilities,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “Combining VACCO’s expertise in highly engineered valves, regulators and manifolds with RBC’s broader portfolio will enable us to better serve the evolving needs of customers in the secularly growing space and naval submarine channels.”
The transaction is expected to close this summer, subject to regulatory approvals and other customary closing conditions. The acquisition will be financed through additional borrowings under RBC’s existing credit agreement and cash on-hand.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems. The Company is primarily focused on producing highly technical or regulated bearing products and components requiring sophisticated design, testing, and manufacturing capabilities for the diversified industrial, aerospace and defense channels. The Company is headquartered in
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Rob Moffatt
Director of Corporate Development & IR
investors@rbcbearings.com
Source: RBC Bearings Incorporated