Apollo Funds Complete Acquisition of Barnes Group
Barnes Group (NYSE: B) has completed its previously announced acquisition by Apollo Funds in an all-cash transaction with a total enterprise value of approximately $3.6 billion. Under the terms of the agreement, Barnes shareholders will receive $47.50 per share in cash.
The transaction, announced on October 7, 2024, and approved by Barnes shareholders on January 9, 2025, marks a significant milestone for the global provider of engineered products and industrial technologies. Following the completion, Barnes' common stock has ceased trading and will be delisted from the NYSE.
The acquisition aims to accelerate Barnes' transformation strategy, enhance capabilities, and broaden product offerings. Apollo sees significant potential in Barnes' aerospace and industrial sectors portfolio, particularly noting the company's positioning to benefit from robust aerospace demand trends.
Barnes Group (NYSE: B) ha completato l'acquisizione precedentemente annunciata da Apollo Funds tramite una transazione interamente in contante del valore totale di circa 3,6 miliardi di dollari. Secondo i termini dell'accordo, gli azionisti di Barnes riceveranno 47,50 dollari per azione in contante.
La transazione, annunciata il 7 ottobre 2024 e approvata dagli azionisti di Barnes il 9 gennaio 2025, rappresenta un traguardo significativo per il fornitore globale di prodotti ingegnerizzati e tecnologie industriali. Dopo il completamento, le azioni ordinarie di Barnes hanno cessato di essere negoziate e saranno rimosse dalla NYSE.
L'acquisizione mira ad accelerare la strategia di trasformazione di Barnes, migliorare le capacità e ampliare l'offerta di prodotti. Apollo vede un potenziale significativo nel portafoglio dei settori aerospaziale e industriale di Barnes, notando in particolare la posizione dell'azienda per beneficiare delle robuste tendenze di domanda nel settore aerospaziale.
Barnes Group (NYSE: B) ha completado la adquisición previamente anunciada por Apollo Funds en una transacción completamente en efectivo con un valor total empresarial de aproximadamente 3,6 mil millones de dólares. Según los términos del acuerdo, los accionistas de Barnes recibirán 47,50 dólares por acción en efectivo.
La transacción, anunciada el 7 de octubre de 2024 y aprobada por los accionistas de Barnes el 9 de enero de 2025, marca un hito significativo para el proveedor global de productos diseñados y tecnologías industriales. Tras la finalización, las acciones ordinarias de Barnes han dejado de cotizar y serán eliminadas de la NYSE.
La adquisición tiene como objetivo acelerar la estrategia de transformación de Barnes, mejorar las capacidades y ampliar la oferta de productos. Apollo ve un potencial significativo en el portafolio de los sectores aeroespacial e industrial de Barnes, destacando en particular la posición de la empresa para beneficiarse de las sólidas tendencias de demanda en el sector aeroespacial.
바네스 그룹 (NYSE: B)는 아폴로 펀드에 의한 완전 현금 거래로 약 36억 달러의 총 기업 가치로 이전에 발표된 인수를 완료했습니다. 계약 조건에 따라 바네스 주주들은 주당 47.50달러를 현금으로 수령하게 됩니다.
이 거래는 2024년 10월 7일에 발표되었으며, 2025년 1월 9일 바네스 주주들의 승인을 받았습니다. 이는 엔지니어링 제품 및 산업 기술의 글로벌 제공업체에게 중요한 이정표를 의미합니다. 완료 후 바네스의 보통주는 거래 중단되었으며 NYSE에서 상장 폐지될 것입니다.
이번 인수는 바네스의 전환 전략을 가속화하고 능력을 향상시키며 제품 제공 범위를 넓히는 것을 목표로 하고 있습니다. 아폴로는 특히 강력한 항공 우주 수요 트렌드의 혜택을 받을 수 있는 회사의 위치를 주목하며 바네스의 항공 우주 및 산업 부문 포트폴리오에 상당한 잠재력이 있다고 보고 있습니다.
Barnes Group (NYSE: B) a finalisé son acquisition précédemment annoncée par Apollo Funds dans le cadre d'une transaction entièrement en espèces d'une valeur d'entreprise totale d'environ 3,6 milliards de dollars. Selon les termes de l'accord, les actionnaires de Barnes recevront 47,50 dollars par action en espèces.
La transaction, annoncée le 7 octobre 2024 et approuvée par les actionnaires de Barnes le 9 janvier 2025, constitue une étape importante pour le fournisseur mondial de produits ingénierisés et de technologies industrielles. Suite à cette opération, les actions ordinaires de Barnes ont cessé d'être négociées et seront radiées de la NYSE.
L'acquisition vise à accélérer la stratégie de transformation de Barnes, à améliorer ses capacités et à élargir son offre de produits. Apollo voit un potentiel significatif dans le portefeuille des secteurs aérospatial et industriel de Barnes, notant en particulier la position de l'entreprise pour tirer parti des tendances robustes de demande dans le secteur aérospatial.
Barnes Group (NYSE: B) hat die zuvor angekündigte Übernahme durch Apollo Funds in einer rein baren Transaktion mit einem Gesamtunternehmenswert von etwa 3,6 Milliarden US-Dollar abgeschlossen. Nach den Bedingungen des Vertrags erhalten die Aktionäre von Barnes 47,50 US-Dollar pro Aktie in bar.
Die Transaktion, die am 7. Oktober 2024 angekündigt und am 9. Januar 2025 von den Aktionären von Barnes genehmigt wurde, stellt einen bedeutenden Meilenstein für den globalen Anbieter von ingenieurtechnischen Produkten und Industrie-Technologien dar. Nach Abschluss hat der Handel mit den Stammaktien von Barnes aufgehört, und sie werden von der NYSE delistet.
Die Übernahme hat zum Ziel, die Transformationsstrategie von Barnes zu beschleunigen, die Fähigkeiten zu verbessern und das Produktangebot zu erweitern. Apollo sieht erhebliches Potenzial im Portfolio der Luft- und Raumfahrt- sowie Industriesektoren von Barnes und hebt insbesondere die Position des Unternehmens hervor, von den robusten Nachfrage-Trends in der Luft- und Raumfahrt zu profitieren.
- All-cash transaction valued at $3.6 billion enterprise value
- Shareholders receive $47.50 per share in cash premium
- Strategic positioning to benefit from robust aerospace demand trends
- Potential for accelerated growth and transformation under Apollo ownership
- Delisting from NYSE reduces public trading liquidity for existing shareholders
- Loss of independence as company transitions to private ownership
Insights
The completion of Barnes Group's
The decision to take Barnes private under Apollo's ownership structure presents distinct advantages. Private ownership typically allows for more aggressive transformation initiatives without the quarterly earnings pressure of public markets. This could accelerate Barnes' strategic evolution, particularly in enhancing its engineered products portfolio and industrial technologies.
The timing of this acquisition is particularly strategic given the current aerospace sector dynamics. With commercial aviation experiencing a strong recovery and defense spending trending upward globally, Barnes' aerospace components business is well-positioned for growth. Apollo's extensive experience in industrial sector investments and their significant capital resources could help Barnes capitalize on these market opportunities more effectively.
For the broader industrial technology sector, this transaction signals continued private equity interest in companies with strong aerospace exposure and differentiated industrial technologies. The deal also highlights the trend of strategic consolidation in the aerospace supply chain, as firms seek to build more resilient and capable platforms to serve increasingly demanding OEM customers.
“We are pleased to announce the completion of our transaction with Apollo Funds, which opens the door to the next phase in Barnes’ evolution,” said Thomas J. Hook, President and Chief Executive Officer of Barnes. “Under Apollo Funds’ ownership, we are well positioned to accelerate our transformation strategy, enhance our capabilities and broaden our product offerings to create new opportunities for increased growth and innovation.”
“We are excited to reach this milestone with the Barnes team and for the tremendous opportunity to accelerate the growth of the Company’s strong portfolio of businesses across the aerospace and industrial sectors,” said Antoine Munfakh, Partner at Apollo. “Barnes has a proud legacy of innovation, close customer relationships and is uniquely positioned to benefit from robust aerospace demand trends. We look forward to partnering with the Barnes team to help them continue to solve their customers’ most complex challenges.”
The transaction was announced on October 7, 2024, and approved by Barnes shareholders at the Company’s Special Meeting of Shareholders on January 9, 2025. Under the terms of the agreement, Barnes shareholders will receive
Advisors
Goldman Sachs & Co. LLC and Jefferies LLC are serving as financial advisors and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Barnes. Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Apollo Funds.
Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements often contain words such as “anticipate,” “believe,” “expect,” “plan,” “estimate,” “project,” “continue,” “will,” “should,” “may,” and similar terms. These forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that may cause actual results to differ materially from any future results expressed or implied by the forward-looking statements. In addition, we have based some of these forward-looking statements on assumptions about future events that may prove to be inaccurate. Such factors, risks and uncertainties include: (1) risks related to disruption of management’s attention from Barnes’ ongoing business operations due to the proposed transaction; (2) the effect of the announcement of the proposed transaction on the ability of Barnes to retain and hire key personnel and maintain relationships with its customers, suppliers and others with whom it does business, or on its operating results and business generally; (3) the impacts resulting from the conflict in
For additional information and detailed discussion of these risks, uncertainties, and other potential factors that could affect our business and performance and cause actual results or outcomes to differ materially from the results, performance or achievements addressed in our forward-looking statements is included in our other filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. Barnes assumes no obligation to update its forward-looking statements, which speak as of their respective dates, whether as a result of new information, future events, or otherwise.
About BARNES
Barnes Group Inc. (NYSE: B) leverages world-class manufacturing capabilities and market-leading engineering to develop advanced processes, automation solutions, and applied technologies for industries ranging from aerospace and medical & personal care to mobility and packaging. With a celebrated legacy of pioneering excellence, Barnes delivers exceptional value to customers through advanced manufacturing capabilities and cutting-edge industrial technologies. Barnes Aerospace specializes in the production and servicing of intricate fabricated and precision-machined components for both commercial and military turbine engines, nacelles, and airframes. Barnes Industrial excels in advancing the processing, control, and sustainability of engineered plastics and delivering innovative, custom-tailored solutions for industrial automation and metal forming applications. Established in 1857 and headquartered in
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2024, Apollo had approximately
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Barnes Contact
Media and Investors
William Pitts
Vice President Investor Relations
(860) 973-2144
wpitts@onebarnes.com
Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com
Source: Barnes Group Inc.
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