Synventive Molding sold to Barnes Group for US$335 million

Hot runner system manufacturer Synventive Molding Solutions has been bought for US$335 million by Barnes Group Inc., an aerospace and industrial manufacturing and service provider.

Bristol, Conn.-based Barnes Group has agreed to purchase all the capital stock of Synventive in cash, subject to certain closing and post-closing adjustments, and is expected to finance the transaction with cash on hand and additional borrowings under an accordion feature of the Company’s existing credit agreement.

The acquisition is anticipated to close in August 2012. Synventive will operate as a strategic business unit within the Barnes Group’s Industrial Segment.

Synventive, headquartered in Peabody, Mass., is one of the world’s largest hot runner systems manufacturers, serving a global customer base of more than 3,000 molders, mold makers and original equipment manufacturers across 50 countries. The company reported 2012 revenues of approximately US$160 million. Synventive operates out of three manufacturing locations in the U.S., Germany and China, with sales and service offices in 28 countries and 770 employees worldwide.