Barnes Group Inc. to Acquire Gammaflux L.P.
7 March 2017
Barnes Group Inc., a global industrial and aerospace manufacturer and service provider, today announced it has entered into a definitive agreement to acquire privately held Gammaflux L.P., a leading supplier of hot runner temperature and sequential valve gate control systems to the plastics industry.
Gammaflux is headquartered in Sterling, Virginia and has offices in Illinois and Germany. While primarily serving the plastic injection molding industry, the company also provides temperature control solutions for blow molding, extrusion, and thermoforming applications. Its end markets include packaging, electronics, automotive, medical, and household products.
“We look forward to adding Gammaflux control systems to our Molding Solutions business,” said Scott A. Mayo, Senior Vice President of Barnes Group Inc. and President, Barnes Industrial. “Gammaflux adds technologically advanced, hot runner temperature control systems to our existing product portfolio, which enable molders to achieve precise temperature control of the injection molding process within the mold. This will ensure high quality parts in the most critical molding applications. These capabilities, when combined with Barnes Group’s leading hot runner, complex mold, and sensor technologies, create an unsurpassed offering to our customers in the plastic injection molding industry.”
The transaction is anticipated to close in the second quarter of 2017, subject to the satisfaction of certain closing conditions, and is not material to Barnes Group’s consolidated financial position or liquidity. Following the closing, Gammaflux will operate as a business within Barnes Group’s Industrial Segment, in the Molding Solutions strategic business unit, which includes leading technology-based businesses Synventive, Männer, Thermoplay, Priamus, and recently acquired FOBOHA. With a comprehensive portfolio of technologies and value-added services, Barnes Group delivers premium tool-based solutions to customers across a broad spectrum of injection molding applications.
Source: businesswire.com