Barnes Group Inc., a global provider of highly engineered products, differentiated industrial technologies and innovative solutions, and Apollo today announced that funds managed by affiliates of Apollo have completed the previously announced acquisition of Barnes in an all-cash transaction with a total enterprise value of approximately $3.6 billion.

“We are pleased to announce the completion of our transaction with Apollo Funds, which opens the door to the next phase in Barnes’ evolution,” said Thomas J. Hook, President and Chief Executive Officer of Barnes. “Under Apollo Funds’ ownership, we are well positioned to accelerate our transformation strategy, enhance our capabilities and broaden our product offerings to create new opportunities for increased growth and innovation.”

“We are excited to reach this milestone with the Barnes team and for the tremendous opportunity to accelerate the growth of the Company’s strong portfolio of businesses across the aerospace and industrial sectors,” said Antoine Munfakh, Partner at Apollo. “Barnes has a proud legacy of innovation, close customer relationships and is uniquely positioned to benefit from robust aerospace demand trends. We look forward to partnering with the Barnes team to help them continue to solve their customers’ most complex challenges.”

The transaction was announced on October 7, 2024, and approved by Barnes shareholders at the Company’s Special Meeting of Shareholders on January 9, 2025. Under the terms of the agreement, Barnes shareholders will receive $47.50 per share in cash. With the completion of the acquisition, Barnes’ common stock has ceased trading and will be delisted from the New York Stock Exchange.

Advisors

Goldman Sachs & Co. LLC and Jefferies LLC are serving as financial advisors and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Barnes. Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Apollo Funds.