RBC Bearings (RBC) said late Tuesday it has struck a deal to buy VACCO Industries from ESCO Technologies (ESE) for $310 million in cash.

VACCO makes valves, manifolds, regulators, filters, and other components and subsystems for the space and naval defense channels, RBC said. For the 12-month period ending March 31, VACCO generated revenue of about $118 million.

The acquisition will be funded through additional borrowings under its existing credit lines and available cash, the firm said. It expects to close the transaction this summer.