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Headquarters: Bristol, Connecticut (Barnes Group)
2012 Revenues: $350.7 million
Change in Sales from 2011: -1.29%
Employees: 5,100 (Barnes Group)
Locations: 11 distribution centers (North America); 10 sales and support facilities (Distribution, total); 70 locations (Barnes Group, total)
2012 Divestments: Barnes Distribution Europe; Barnes Distribution North America
Key Executives: Gregory F. Milzcik, president and CEO; Patrick J. Dempsey, senior vice president and COO; Dawn N. Edwards, senior vice president, human resources; Christopher J. Stephens, Jr., senior vice president, finance and CFO; Claudia S. Toussaint, senior vice president, general counsel and secretary (Barnes Group)
Barnes Group sold its Distribution Europe business to Berner SE for $33 million in January 2012, and in April 2013, the group completed the sale of its North America Distribution business, which comprised the majority of 2012 distribution segment results, to MSC Industrial Direct Co. Inc. Tom Lange, managing director and head of Robert W. Baird & Co.’s Distribution Group, which advised Barnes Group on the divestiture, told MDM in March that Barnes’ North American distribution segment will benefit from the divestiture because of MSC’s position in the market. “This acquisition gives Barnes Distribution North America and its employees an opportunity to continue the strategic plans and initiatives that have been developed at Barnes in partnership with a strong industry player,” he said.
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