Barnes Group to be acquired for US$3.6 billion
Barnes Group Inc., a global provider of highly engineered products and differentiated industrial technologies, has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (Apollo Funds) in an all-cash transaction that values Barnes at an enterprise value of approximately US$3.6 billion.
Barnes operates in two main business areas, namely aerospace and industrial. For its industrial business, the company offers solutions for molding, automation, and force & motion control in an array of end markets, including automotive, packaging, medical, electronics, etc. Barnes owns brands such as Synventive, manner, FOBOHA, among others.
“We are pleased to reach this agreement with Apollo Funds, which delivers immediate and certain cash value to our shareholders and positions Barnes to continue meeting and exceeding our customers’ needs for aerospace and industrial products, systems and solutions,” said Richard J. Hipple, Chairman of the Board of Directors.
“We see opportunities to further invest in and grow Barnes’ businesses, which are positioned to benefit from long-term aerospace demand trends, as well as the need for high performance components and solutions for a range of end-markets,” said Antoine Munfakh, Partner at Apollo.
The transaction is expected to close before the end of Q1 2025 and is subject to customary closing conditions. Upon completion of the transaction, Barnes will be delisted from the New York Stock Exchange and become a privately held company. Barnes will continue to operate under the Barnes Group name and brand.
