RBC Bearings, Inc.—a leading international manufacturer of highly-engineered precision plain, roller, and ball bearings for the industrial, defense, and aerospace industries—announces that it has acquired Phoenix Bearings Limited for approximately $4.3 million in cash. Phoenix, located in Gloucestershire, England, manufactures bearings for the steel and mining industries as well as other general industrial applications with bore sizes ranging from 100 millimeters to one meter. Phoenix generated revenues of approximately $4.5 million in its most recent calendar year. The financial results of Phoenix will be reported as part of RBC’s Roller Bearings segment.
Dr. Michael J. Hartnett, chairman and chief executive officer, says “The Phoenix team represents a unique combination of skills and experience, which will offer important benefits to RBC. The company’s technology and expertise in manufacturing large bearings with bore sizes of up to one meter enhances our offering to both existing and new business. We are excited to add Phoenix’s capabilities and products to our portfolio. The acquisition is in line with our strategy and goals of continually expanding our base, adding value to our clients, and increasing our value to the marketplace.”
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 1,850 people and operates 16 manufacturing facilities in three countries.