Apollo Global Management is acquiring Barnes Group for $3.6 billion, offering a share price premium as it aims to enhance its industrial portfolio amidst favorable market conditions.

Overview of the Deal

Apollo Global Management, through its Apollo Funds, is set to acquire Barnes Group in a transaction valued at $3.6 billion. Under this agreement, Barnes Group shareholders will receive $47.50 per share in cash, reflecting a 5% premium based on the last closing price and a substantial 20% premium compared to the trading prices in June. The acquisition is anticipated to close by the end of the first quarter of 2025, with Goldman Sachs and Jeffries serving as financial advisors to Barnes Group, and Wachtell, Lipton, Rosen & Katz providing legal counsel. Apollo is represented by Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP.

Information on the Target: Barnes Group

Barnes Group is an esteemed global manufacturing company renowned for producing highly engineered and differentiated products tailored for industrial and aerospace applications. The company specializes in providing molding solutions, automation systems, and force and motion control, servicing a diverse range of sectors, including healthcare, mobility, and packaging. Notably, Barnes manufactures critical components and assemblies for both commercial and military turbine engines, including nacelles and airframes, alongside offering top-tier aftermarket maintenance, repair, and overhaul (MRO) services.

Founded by Wallace Barnes, the company originated as the Associated Spring Corporation and publicly traded as such since 1946. Over the years, it has evolved significantly, adopting the name Barnes Group Inc. in 1976 and currently operating under the ti