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        IMA

Barnes to acquire Thermoplay for EUR50 mn

US-based Barnes Group, an international industrial and aerospace manufacturer and service provider, is to acquire privately held Thermoplay, an Italian company that specialises in the design, development, and manufacturing of hot runner solutions for injection moulding applications primarily in the packaging, automotive, and medical end markets. Barnes has other companies specialising in tools. In 2013, Barnes bought the German mould maker Otto Männer and in 2012 it purchased American hot runner supplier Synventive Molding Solutions Group.

Thermoplay’s headquarters and manufacturing facility are located in Pont-Saint-Martin in Aosta, Italy, with technical service capabilities in China, India, France, Germany, UK, Portugal, and Brazil. The company has annual revenues of approximately EUR35 million and over 200 employees serving customers worldwide.

Barnes will purchase 100% of Thermoplay’s capital stock for EUR50 million, subject to certain post-closing adjustments, and is expected to finance the transaction with cash on hand and borrowings under the company’s revolving credit facility. Following the closing, Thermoplay will operate as a business unit within Barnes Group’s Industrial segment.

“This acquisition represents an excellent opportunity for us to further expand our service offerings to the plastic injection moulding industry,” said Patrick J. Dempsey, President/CEO of Barnes. “Thermoplay allows us to increase our presence in favourable end markets, leverage the many differentiated technologies we offer in this area, and further globalise our plastic injection mould and hot runner manufacturing capabilities. We are excited about adding the Thermoplay business and skilled workforce to Barnes Group and continuing Thermoplay’s relentless commitment to customer satisfaction.”

Founded in 1857, Barnes is traded on the New York Stock Exchange and serves a wide range of end markets and customers. The highly engineered products, differentiated industrial technologies, and solutions delivered by Barnes are used in applications that provide transportation, manufacturing, healthcare products, and technology to the world. Barnes has approximately 4,500 skilled and dedicated employees, at more than 60 locations worldwide.

(IMA)


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