Foley & Lardner LLP served as legal advisor to Barnes Group Inc., a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, in its entering into a definitive agreement to sell its Associated Spring™ and Hänggi™ businesses to One Equity Partners. The transaction is valued at $175 million, inclusive of a $15 million seller promissory note due in 24 months.
Associated Spring™ and Hänggi™ are leaders and innovators in engineered spring and precision metal component manufacturing, progressive stamping, micro-stamping, and fine blanking. The brands are part of Barnes’ Motion Control Solutions strategic business unit within the Industrial Segment and serve automotive, general industrial, and other markets. Combined, the businesses had approximately $200 million in revenues over the last twelve months with over 800 employees worldwide and manufacturing operations in the U.S., Mexico, Brazil, Switzerland, and Singapore.
Barnes Group Inc. (NYSE: B) leverages world-class manufacturing capabilities and market-leading engineering to develop advanced processes, automation solutions, and applied technologies for industries ranging from aerospace and medical and personal care to mobility and packaging. With a celebrated legacy of pioneering excellence, Barnes delivers exceptional value to customers through advanced manufacturing capabilities and cutting-edge industrial technologies.
The Foley deal team was led by partner Spencer Moats and included partner Jonathan Witt, senior counsel Christopher Bourne, and associates Bryn Allen, Laura Kirtley, and Christopher Terris, with support from partners Linda Benfield, Fernando Camarena, Jamie Class, Alejandro Gomez, Steven Good, Steven Hilfinger, Chanley Howell, Gregory Husisian, Gregory Neppl, Philip Phillips, Leigh Riley, Jeffrey Soble, Marcus Sprow, and John Turlais, and of counsel Sophie Lignier.
