Barnes Group Inc. (NYSE: B), Bristol, CT, an international aerospace and industrial manufacturing and service provider, has agreed to acquire Synventive Molding Solutions in Peabody, MA, for $335 million. The acquisition is expected to close in August 2012.
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“The global demand for more complex, highly technical injection molding solutions is anticipated to grow substantially in the future,” said Gregory Milzcik, Barnes Group president and CEO.
Synventive is a manufacturer of highly engineered and customized hot runner systems, components and services. With estimated 2012 revenues of $160 million, Synventive operates three manufacturing locations in the United States, Germany and China, with sales and service offices in 28 countries and 770 employees worldwide. Synventive will operate as a strategic business unit within Barnes Group’s Industrial Segment.