Barnes Group to acquire the moulds business of Adval Tech

Barnes Group, an international aerospace and industrial manufacturing and service provider, has announced that it has entered into a definitive agreement to acquire Adval Tech’s molds business (Foboha), focused on the development and manufacture of complex plastic injection molds for packaging, medical, consumer, and automotive applications. Foboha, which is headquartered in Haslach, Germany, operates out of three manufacturing locations in Germany, Switzerland, and China.

Barnes Group has agreed to purchase the Foboha mold-making business for approximately 136 million euros, subject to certain closing adjustments, and is expected to finance the transaction with cash on hand and borrowings under the Company’s revolving credit facility. The acquisition is expected to close in the third quarter of 2016, subject to the receipt of regulatory approvals and the satisfaction of other closing conditions. Following the closing, Foboha will operate as a business within the Molding Solutions strategic business unit of Barnes Group’s Industrial Segment.

“We are excited to add Foboha’s proprietary cube mold technology to our portfolio of advanced offerings in the plastic injection molding industry”, said Patrick Dempsey, president and CEO of Barnes Group. “The addition of Foboha enhances our position as a leading global supplier of complex molding systems”.