Barnes to buy Männer for EUR275 mn

US public-listed Barnes Group is acquiring privately held Otto Männer GmbH, a German manufacturer of hot runners, moulds and micromoulding systems for EUR275 million, giving the diversified manufacturer additional offerings in mould making and hot runner systems. Barnes bought US supplier of hot runner systems, Synventive Molding Solutions, last year.

Männer, headquartered in Bahlingen, provides high precision mould making services, valve gate hot runner systems, and system solutions for the medical and pharmaceutical, packaging, and personal care and health care industries. It operates three manufacturing facilities in Germany, Switzerland and the US and has sales and service offices in Europe, Hong Kong and China and Japan.

Barnes Group's offerings range from aircraft-engine components to mechanical springs and gas-hydraulic systems, while its distribution segment provides logistical services such as inventory management and maintenance.

The deal will be financed with cash on hand and borrowing under a revolving credit facility, as well as about EUR27.5 million in Barnes stock.

Upon closing of the acquisition in October/November, Männer will operate as a business unit within Barnes' industrial segment.

(IMA)

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