News / RBC Bearings Incorporated Completes the Acquisition of Climax Metal Products Company
Date: 2013-08-19
RBC Bearings Incorporated Completes the Acquisition of Climax Metal Products Company
OXFORD, Conn.--(BUSINESS WIRE)--Aug. 16, 2013-- RBC Bearings Incorporated (NASDAQ: ROLL), a leading international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, today announced that it has acquired Climax Metal Products Company (“CMP”) for approximately $13.6 million.
CMP located in Mentor, Ohio, is a manufacturer of precision shaft collars, rigid couplings, keyless locking devices, and bearings for the industrial markets. CMP’s net sales for the last calendar year were approximately $14.1 million.
“The addition of Climax Metal Products Company supports our long term growth strategy as we continue to expand and complement our existing product portfolio, customer base and distribution channels,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer.
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 2,189 people and operates 24 manufacturing facilities in four countries.
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