Barnes Group Announces UK Aerospace Acquisition
Barnes Group is acquiring British manufacturer MB Aerospace in what the Bristol-based company described as its largest acquisition ever.
Barnes announced the deal in a June 5 statement, and expects the transaction to close in the fourth quarter of 2023, “subject to the receipt of regulatory approvals and the satisfaction of other customary closing conditions.”
Headquartered in Motherwell, Scotland, MB Aerospace has 1,450 employees and facilities in the U.K., Poland, Taiwan, and East Granby and Warren, Massachusetts.
MB Aerospace is a leading provider of precision component manufacturing and repair services serving aerospace and defense engine OEMs, tier 1 suppliers, and MRO providers for an enterprise value of approximately $740 million.
“The acquisition of MB Aerospace, the largest in Barnes’ history, is a transformational opportunity that is a significant catalyst for our already world-class aerospace business,” said Barnes president and CEO Thomas Hook.
“MB is an exceptional strategic fit for us with highly complementary program focus, global operations, technical capabilities, and product offerings.
“Like Barnes Aerospace, MB possesses a history and culture of operational and technical excellence through a skilled workforce, and global footprint that will help us drive productivity across the combined entity.”
MB Aerospace will become part of Barnes Aerospace, an operating division of Barnes Group.
Barnes Aerospace president Ian Reason said the deal “significantly expands our ability to support A&D customers throughout the product lifecycle, from new production development and manufacturing to OEM-approved repair solutions.”
EXPLORE BY CATEGORY
Stay Connected with CBIA News Digests
The latest news and information delivered directly to your inbox.