Bristol, CT - Barnes Group Inc. announced that it has completed its acquisition of the operating companies of privately held Männer.
Männer is a leader in high precision mold-making, valve gate hot runner systems, and system solutions for the medical/pharmaceutical, packaging, and personal care/health care industries. Männer has approximately 400 employees worldwide, and operates out of three manufacturing locations in Germany, Switzerland, and the United States, with sales and service locations in Europe, Hong Kong/China, and Japan.
Barnes Group purchased the capital stock of the Männer operating companies for €275 million, subject to the terms of the purchase agreement. Barnes Group financed the transaction with cash on hand, borrowings under the Company’s revolving credit facility, and approximately one million shares of common stock, or 10% of the purchase price. Männer will operate as a business unit within Barnes Group’s Industrial segment.
“We are pleased to complete the Männer transaction and welcome its skilled workforce to Barnes Group,” said Patrick Dempsey, President and CEO of Barnes Group. “Männer’s precision manufacturing capabilities, highly-engineered products and system solutions, and complementary end-markets in the injection molding industry, allow Barnes Group to extend its growth opportunities and technical capabilities in this highly desirable industry.”