RBC Bearings Incorporated (NYSE:RBC, RBCP))), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today announced the acquisition of the business assets of Specline, Inc. ("Specline"), a manufacturer of precision bearings for the commercial and defense aerospace markets, for $18.7 million.
Dr. Michael J. Hartnett, Chairman and Chief Executive Officer, commented, "Specline has a proven business model that delivers value to aircraft customers. The addition of Specline's unique bearing and manufacturing processes increases the breadth of our aerospace product offering and enhances our production capacity. We are excited to be gaining such a well-respected family business with deep customer relationships and a talented workforce. Rick and Veronica Clemens continued the legacy of Rick's father over the last 50 years and have now passed the torch to RBC Bearings."
Founded in 1970 and headquartered in Carson City, Nevada, Specline has a diverse aerospace customer base and employs 38 skilled professionals. The business produces standard and custom configuration precision spherical bearings, rod ends and journal bearings. Specline generated approximately $8.4 million in net sales over the last twelve months.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems. Founded in 1919, 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 markets. The Company is headquartered in Oxford, Connecticut.
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