Barnes Group buys Synventive for $335 million
by CanadianManufacturing.com Staff
Synventive is one of the world’s largest hot runner systems manufacturers
BRISTOL, Conn.—International aerospace and industrial manufacturing and service provider Barnes Group Inc has completed its $335-million acquisition of privately held Synventive Molding Solutions.
Synventive 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.
With estimated 2012 revenues of approximately $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 about 770 employees worldwide. Synventive will operate as a strategic business unit within the Barnes Group’s Industrial Segment.
For 2012, the acquisition is expected to contribute about $55 million in sales with no meaningful impact to Barnes Group’s earnings-per-share.