Enables Barnes Aerospace to better capitalize on aerospace industry tailwinds and accelerate its value creation plan
The Industrial Solutions Group to focus on delivering highly engineered solutions for complex products globally
BRISTOL, Conn.–(BUSINESS WIRE)–Barnes Group Inc. (“Barnes” or the “Company”), which was acquired by funds managed by affiliates of Apollo (“the Apollo Funds”) in January, today announced that it has successfully separated into two companies, Barnes Aerospace and The Industrial Solutions Group, each with its own leadership team and capital structure. Customers of both businesses will continue to enjoy the same level of service and excellence that they have come to expect from these industry leaders.
Antoine Munfakh, Chairman of Barnes’ Board of Directors and Deputy Global Head of Private Equity at Apollo, said, “This separation is a pivotal step in Apollo’s strategy to unlock the full potential of Barnes’ historic businesses, enabling each company to define its own growth strategies and focus resources where they can drive the greatest impact. Each business is led by an exceptional team with the flexibility to chart its own value creation path, and we are confident that this separation will enable maximum realization of Barnes’ immense growth potential.”
George Whittier, President and CEO of Barnes Aerospace, said, “The separation allows us to move faster, make decisions with greater agility and build on the strong foundation that Barnes has built over the last 168 years. We will continue investing in our people, executing our value creation plan with speed, pursuing strategic acquisitions and expanding our capabilities to continue delivering safe, innovative solutions for our customers across the full lifecycle of the engine supply chain.”
Thomas J. Hook, President and CEO of The Industrial Solutions Group, said, “Today marks an exciting new chapter for The Industrial Solutions Group, which includes the market-leading Molding Solutions, Force & Motion Control, and Automation business units. As a standalone company, we are better positioned to sharpen our focus on delivering highly engineered solutions for our customers, expanding into adjacent markets and accelerating innovation across our businesses. With a talented and passionate team, and the resources to execute on our long-term vision, The Industrial Solutions Group is well-situated to scale effectively and drive growth across the industries we serve.”
About Barnes Aerospace
Barnes Aerospace is a premier provider for the full life-cycle supply and repair of complex aeroengine components from fan to exhaust. The Barnes Aerospace global facility footprint provides responsive component repair and overhaul (CRO) services for both commercial and defense aeroengine platforms and provides high-value solutions to major OEMs, MROs, and airlines. In addition, Barnes Aerospace manufactures critical engine components with leading precision machining, fabrication, and assembly capabilities, earning its reputation as a trusted supply chain partner to major OEMs. For more information, please visit www.barnesaero.com.
About The Industrial Solutions Group
The Industrial Solutions Group is a leading manufacturer of highly engineered, high-quality precision products, systems, and solutions for critical applications. Serving a diverse customer base across several key end-markets, the company operates through three core business units: Molding Solutions, a best-in-class provider of integrated systems and solutions used in the injection molding process; Force and Motion Control, a global leader in force and motion control systems and precision components; and Automation, an innovator and manufacturer that delivers critical solutions for Industry 4.0 automation applications across a broad range of markets. The Industrial Solutions Group combines innovation, engineering excellence, and global reach to help customers solve complex challenges, improve efficiency, and achieve superior performance.
Contacts
Edelman Smithfield
Barnes@edelmansmithfield.com
