Barnes Group Inc. has completed its previously announced acquisition of MB Aerospace, a leading provider of precision aero-engine component manufacturing and repair services serving major aerospace and defense engine OEMs, Tier 1 suppliers, and MRO providers.
“We’re excited to welcome MB Aerospace and its talented workforce to Barnes Aerospace,” said Ian Reason, Senior Vice President, Barnes and President, Barnes Aerospace. “The significant growth opportunities provided by this combination will enhance our ability to deliver value-add solutions across the aero-engine value chain. MB Aerospace brings welcomed customer diversification within both commercial aerospace and defense platforms and provides Barnes with a well-balanced portfolio across aerospace and industrial end markets.”
The purchase price of $740 million, subject to customary closing adjustments, was financed with cash on hand, borrowings under the company’s new $1.0 billion revolving credit facility and its new $650 million term loan B. For the remainder of 2023, the acquisition is expected to add approximately $110 million in sales and be dilutive to adjusted earnings per share by approximately $0.25. The company will discuss additional details about the MB Aerospace acquisition and its operational and financial impact on the company’s third quarter 2023 earnings call scheduled for Friday, Oct. 27.