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RBC is paying $2.9 billion to acquire the international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries.
Company’s profit for the second quarter also spiked, growing 31.7% to $99.3 million.
The manufacturer reported a strong second quarter, as profit almost doubled to $1.7 billion.
The Swiss company also reported that its profit grew to $752 million from $319 million in the period.
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In addition to setting a revenue record of $1.8 billion, the pool supply distributor saw profit increase nearly 65% for the quarter.
With the addition of the Springfield, Illinois-based distributor, Sonepar is expanding its footprint in the Midwest.
Year-to-date sales grow 26.3% from same period in 2020 as company delivers a “blowout” quarter, said the distributor’s CEO.
