Barnes Group acquired by Apollo Funds in US$3.6 billion all-cash deal

Barnes Group (Barnes), a global provider of highly engineered products, differentiated industrial technologies and innovative solutions, and Apollo, the global alternative asset manager, have announced the completion of the previously disclosed acquisition of Barnes by funds managed by affiliates of Apollo (Apollo Funds). The all-cash transaction carries a total enterprise value of approximately US$3.6 billion.

“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 first announced on October 7, 2024, and subsequently 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 US$47.50 per share in cash. With the acquisition now finalised, Barnes’ common stock has ceased trading and will be delisted from the New York Stock Exchange.