Barnes Group Inc. (NYSE: B) said it has completed its acquisition of privately held Thermoplay.
Thermoplay specializes in the design, development, and manufacturing of hot runner solutions for plastic injection molding applications primarily in the packaging, automotive, and medical end markets.
Thermoplay´s headquarters and manufacturing facility are located in Pont-Saint-Martin in Aosta, Italy, with technical service capabilities in China, India, France, Germany, United Kingdom, Portugal, and Brazil. The company has annual revenues of approximately â¬35 million and over 200 employees serving customers worldwide.
Barnes Group purchased 100 percent of Thermoplay´s capital stock for â¬50 million and financed the transaction with cash on hand and borrowings under the company´s revolving credit facility. Thermoplay will operate as a business unit within Barnes Group´s Industrial segment.
Founded in 1857, Barnes Group Inc. is an international industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. Barnes Group´s approximately 4,700 skilled and dedicated employees, at more than 60 locations worldwide, are committed to achieving consistent and sustainable profitable growth.