Barnes Group Inc. Completes Acquisition of Thermoplay
By Business Wire News
By Business Wire News
Barnes Group Inc. (NYSE: B), an international aerospace and industrial manufacturing and service provider, today announced that it has completed its acquisition of privately held Thermoplay.
Thermoplay specializes in the design, development, and manufacturing of hot runner solutions for plastic injection molding applications primarily in the packaging, automotive, and medical end markets. Thermoplay’s headquarters and manufacturing facility are located in Pont-Saint-Martin in Aosta, Italy, with technical service capabilities in China, India, France, Germany, United Kingdom, Portugal, and Brazil. The company has annual revenues of approximately €35 million and over 200 employees serving customers worldwide.
Barnes Group purchased 100% of Thermoplay’s capital stock for €50 million and financed the transaction with cash on hand and borrowings under the Company’s revolving credit facility. Thermoplay will operate as a business unit within Barnes Group’s Industrial segment.
“We are pleased to complete the Thermoplay transaction and welcome its skilled workforce to Barnes Group,” said Patrick Dempsey, President and CEO of Barnes Group. “Thermoplay will allow us to leverage the many differentiated technologies and manufacturing capabilities we offer in the plastic injection molding industry, and broaden the end markets that we serve.”
About Barnes Group
Founded in 1857, Barnes Group Inc. (NYSE: B) is an international industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. The highly engineered products, differentiated industrial technologies, and innovative solutions delivered by Barnes Group are used in far-reaching applications that provide transportation, manufacturing, healthcare products, and technology to the world. Barnes Group’s approximately 4,700 skilled and dedicated employees, at more than 60 locations worldwide, are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com.
Barnes Group Inc.
Director, Investor Relations