Change of ownership

Barnes Group acquires Gimatic

Marketing - Wednesday, 26 September 2018

A global provider of highly engineered products and di differentiated industrial technologies, Barnes Group announced that it has entered into a defnitive agreement to acquire privately held Gimatic, a leading supplier of mission-critical solutions for industrial automation and robotic applications from Gimatic’s founder and investment funds affiliated with Agic Capital and Xenon Capital Partners.

Gimatic designs and develops robotic grippers, advanced end-of-arm tooling systems, sensors and other automation components. Gimatic specializes in delivering intelligent robotic handling solutions for industrial automation applications in end markets such as automotive, packaging, healthcare, and food and beverage. Headquartered in Brescia, Italy, the company has a sales network extending across Europe, North America and Asia.

Advancements in robotic technology are rapidly increasing the ability to accomplish more complex tasks at higher speeds and with improved control and repeatability. With rising labor costs and greater affordability of robotics, Gimatic’s customized mission-critical systems directly bene􀃒t from a large and growing global installed base of over two million industrial robots.

 “We are extremely excited to add Gimatic and its founder, Giuseppe Bellandi, to Barnes Group, as this acquisition will provide us a gateway into the industrial automation market - a highly attractive market that is wellaligned with our strategic growth plans. With accelerating adoption of automation and robotic technologies in the global industrial sector, market demand for Gimatic’s advanced solutions is anticipated to increase significantly in the future”, said Patrick Dempsey, president and CEO of Barnes Group.

Barnes Group has agreed to purchase Gimatic for 370 million euros in cash subject to certain closing and post-closing adjustments, and is expected to finance the transaction with cash on hand and additional borrowings under its existing credit agreement. The transaction is anticipated to close in the fourth quarter of 2018. Gimatic will operate as a new strategic business unit within Barnes Group’s Industrial Segment.

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