Barnes Group acquires end-of-arm tooling maker Gimatic srl
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Italy-based Gimatic will operate as a business unit within Barnes Group’s industrial segment.
In a bid to move into the automation sector, industrial and aerospace manufacturer Barnes Group Inc. has acquired Gimatic S.r.l., and Italy-based maker of robotic grippers, advanced end-of-arm tooling systems, sensors and related components for US$420 million.
Gimatic – which has approximately 240 employees worldwide, with a sales and service network extending across Europe, North America, and Asia – will operate as a business unit within Barnes Group’s industrial segment.
“We are very pleased to complete the Gimatic transaction as it represents another significant milestone in the execution of our strategy to transform the Barnes Group portfolio,” Patrick Dempsey, president and CEO of Barnes Group, said in a statement. “Gimatic’s patented technologies and intellectual property-based solutions, coupled with its strong market position, provide a highly attractive gateway into the industrial automation market.”
Barnes Group is headquartered in Bristol, Conn. Last year, the company bought hot runner temperature control maker Gammaflux L.P. In 2012, it bought hot runner maker Synventive Molding Solutions.