Dover Signs Definitive Agreement To Sell Sargent Aerospace & Defense
DOVER SIGNS DEFINITIVE AGREEMENT TO SELL SARGENT AEROSPACE & DEFENSE
Downers Grove, IL, March 26, 2015 - Dover (DOV) today announced that it has signed a definitive agreement to sell its Sargent Aerospace & Defense unit ("Sargent"), headquartered in Tucson, Arizona, to RBC Bearings Incorporated (ROLL) for $500 million. Sargent is a leading supplier of precision-engineered components and aftermarket services in the aerospace and defense industries.
Commenting on the transaction, Dover`s President and Chief Executive Officer, Robert A. Livingston, said, "The sale of Sargent is consistent with our strategy to focus our business mix around our key growth spaces and end-markets. Sargent has a long track record of providing innovative products and solutions to its customers. I am confident Sargent will continue to build on its success with RBC Bearings."
- Published: 27 March 2015
- Written by Editor