The 50 million-euro transaction should be closed within August

Barnes Group, an international industrial and aerospace manufacturer and service provider, has announced it has entered into a definitive agreement to acquire privately held Thermoplay. Thermoplay specializes in the design, development, and manufacturing of hot runner solutions for plastic injection molding applications primarily in the packaging, automotive, and medical end markets.

Thermoplay’s headquarters and manufacturing facility are located in Pont-Saint-Martin, near Aosta, Italy, with technical service capabilities in China, India, France, Germany, United Kingdom, Portugal, and Brazil. The company has annual revenues of approximately 35 million euros and over 200 employees serving customers worldwide.

Barnes Group has agreed to purchase 100% of Thermoplay’s capital stock for 50 million euros, subject to certain postclosing adjustments, and is expected to finance the transaction with cash on hand and borrowings under the company’s revolving credit facility. Following the closing, Thermoplay will operate as a business unit within Barnes Group’s Industrial segment.

“This acquisition represents an excellent opportunity for us to further expand our service offerings to the plastic injection molding industry”, said Patrick J. Dempsey, president and chief executive officer of Barnes Group. “Thermoplay allows us to increase our presence in favorable end markets, leverage the many differentiated technologies we offer in this area, and further globalize our plastic injection mold and hot runner manufacturing capabilities. We are excited about adding the Thermoplay business and skilled workforce to Barnes Group and continuing Thermoplay’s relentless commitment to customer satisfaction”.

"The combination of Thermoplay and Barnes Group enhances our ability to serve our customers and opens new opportunities for long-term growth", added Roberto Enrietti, chief executive officer of Thermoplay. "Becoming part of Barnes Group will strengthen Thermoplay’s competitive position, provide strategic investment for geographic expansion, and allow both companies to realize faster growth together than each could achieve on its own".

Barnes Group expects to close the transaction in August 2015.