Oct. 1, 2013, 9:10 AM
- Barnes Group (B) agrees to acquire privately-held Männer for ~€275M ($373M), giving the diversified manufacturer additional offerings in mold-making and hot runner systems.
- Männer, headquartered in Germany, operates out of three manufacturing locations in Germany, Switzerland and the U.S., and has sales and service offices in Europe, Hong Kong and Japan.
Apr. 22, 2013, 11:02 AMBarnes Group (B -2%) says it's completed the sale of its North American distribution business to MSC Industrial Direct (MSM +0.5%), for approximately $550M in cash. As a result of the sale, B has updated FY13 guidance, saying that it will report the sold unit as discontinued operations beginning with Q1. It now expects FY13 revenue from continuing operations to grow 17% to 20% Y/Y. GAAP EPS are now anticipated to be in the range of $1.71 to $1.86. | Apr. 22, 2013, 11:02 AM | Comment!
Feb. 22, 2013, 8:08 AMMSC Industrial Direct (MSM) agrees to acquire all assets and assume certain liabilities of the North American distribution business of the Barnes Group (B) for $550M. MSM expects the deal to be accretive to cash flow and EPS in FY2014 and 2015. Also, Barnes names COO Patrick Dempsey as its new President and CEO. | Feb. 22, 2013, 8:08 AM | Comment!
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Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving end markets and customers. Its engineered products and services are used in critical applications that provide transportation, manufacturing and technology.
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