RBC Bearings Acquires Climax Metal - Analyst Blog
August 19 2013 - 10:00AM
Zacks
Headquartered in Oxford, Conn.,
RBC Bearings Incorporated (ROLL) recently acquired
Climax Metal Products Company. Based in Mentor, Ohio, Climax Metal
is a provider of engineered shaft locking solutions, including
shaft collars, rigid couplings and keyless locking devices. The
acquisition was worth $13.6 million.
Climax Metal generated revenues of
$14.1 million in the last calendar year, whereas RBC Bearings
recorded revenues of $403.1 million in the fiscal year ended Mar
2013.
RBC Bearings is on constant lookout
for acquisitions to enhance its product portfolio as well as
geographical reach. Since Oct 1992, RBC Bearings has made 20
accretive acquisitions. Of these, the acquisitions of Lubron, PIC
Design, A.I.D. Company and BEMD Company deserve special
mention.
In March, RBC Bearings acquired
Western Precision Aero LLC, a manufacturer of precision components
and gears, for $2.6 million.
Earlier this month, the company
reported fiscal first-quarter 2014 results with adjusted earnings
of 66 cents per share, increasing 6.5% year over year. However, net
sales declined 0.6% year over year to $102.7 million due to
weekness in the Industrial segment. The company also announced that
the steady cash in the balance sheet will be used for future
acquisitions.
RBC Bearings manufacturers and
distributes plain, roller and ball bearings. These bearings are a
tool to reduce damage and energy loss along with smoothening of
proper power transmission in the majority of machine and mechanical
systems.
The company currently carries a
Zacks Rank #3 (Hold). However, other stocks worth a look in the
industry are NN Inc. (NNBR), Northwest
Pipe Co. (NWPX) and CIRCOR International,
Inc. (CIR). While NN Inc. and Northwest Pipe carry a Zacks
Rank #1 (Strong Buy), CIRCOR carries a Zacks Rank #2 (Buy).
CIRCOR INTL (CIR): Free Stock Analysis Report
NN INC (NNBR): Free Stock Analysis Report
NORTHWEST PIPE (NWPX): Free Stock Analysis Report
RBC BEARINGS (ROLL): Free Stock Analysis Report
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