Aerospace parts company RBC Bearings Inc. (Nasdaq: ROLL) is buying Dover Corp.'s (NYSE: DOV) Sargent Aerospace & Defense business for $500 million.

As aircrafts age and scrutiny of the industry intensifies in the wake of high-profile plane crashes, companies that makes airplane parts are likely to be increasingly attractive targets.

Sargent, headquartered in Tucson, Arizon, makes precision-engineered products for aircraft airframes, engines, rotocraft, submarines and land vehicles. The company manufactures, sells and services hydraulic valves and actuators, bearings, fasteners, seal rings and other parts under the Kohr Bearing, Airtomic, Sonic Industries, Sargent Controls and Sargent Aerospace & Defense lines. The company has about $195 million in annual sales.

The buyer, Oxford, Connecticut-based RBC, makes precision plain, roller and ball bearings for the industrial, defense and aerospace industries.

Moelis & Co. was RBC's financial adviser, while Kirkland & Ellis LLP was legal counsel.

RBC financing the deal with cash on hand and a new $350 million revolving credit facility, which includes a $200 million senior term loan A. Wells Fargo Securities LLC and Wells Fargo Bank NA are providing the loan.

We have seen several deals in the aerospace parts market recently. Earlier in March, Sifco Industries Inc. (NYSE: SIF) agreed to buy C*Blade Spa, which makes turbine blades and parts for the aerospace market, for $26.5 million. In February, Genstar Capital portfolio company MW Industries bought aerospace parts-maker Helical Products Co. 

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