Apollo Funds to Acquire Barnes Group for $3.6 Billion in Cash

Barnes Group Inc. (B) announced on October 7, 2024, that Apollo Funds will acquire the aerospace parts maker in an all-cash deal valued at $3.6 billion.

Deal Structure:

Under the terms of the agreement, Barnes shareholders will receive $47.50 per share in cash from the funds managed by affiliates of Apollo Global Management (APO), representing a premium of 4.95% from the stock’s last close.

Company Profile:

Barnes Group is a global company that makes advanced parts and technologies for industries like aerospace, medical, and packaging. It focuses on precision manufacturing and automation solutions.

Apollo Global Management is a New York-based private equity firm specializing in investments in credit, private equity, and real estate markets globally, with a focus on various industries and employing contrarian, value, and distressed strategies.

Deal Details and Timeline:

The transaction is anticipated to be completed before the end of the first quarter of 2025.

Media reports of the aerospace parts maker exploring strategic options had started making rounds in June. The stock was trading at $38.90 before the initial reports. Last week, Reuters reported that Apollo was in talks for a deal priced at more than $45 per share, which made the stock jump.

Once the deal is completed, Barnes will no longer be listed on the New York Stock Exchange and will become a private company. It will still operate under the Barnes Group name and brand.

Barnes’ current EV/EBITDA (TTM) ratio is 10.25, below the sector median of 13.84.

Deal Metrics:

For more specific details on this merger and acquisition transaction, please visit the Deal Metrics page:

Deal Metrics for the acquisition of Barnes Group Inc. (B) by Apollo Global Management, Inc. (APO)

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

Disclaimer: This article is for informational purposes only. Please conduct your own due diligence before making any investment decisions based on the content or data provided in this article. We do not guarantee the completeness or accuracy of the information provided.

Editor’s Note: Baranjot Kaur contributed to this article