Company:Barnes Group
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| Type | Private |
|---|---|
| Industry | Industrial Technology and Aerospace Manufacturing |
| Founded | 1857 |
| Founder | Wallace Barnes |
| Headquarters | Bristol, Connecticut[1] , |
Area served | Worldwide |
Key people | Eddie Barnes (Deceased), Thomas O Barnes, heirs: Edith Grant, Regina Hackette, Ruth Barnes, Jack Barnes, Glenda Stone, and Byron Barnes |
| Products | Industrial and Aerospace Manufacturer |
| Revenue |
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| Total assets | Barnes Family Assets $200M USD. |
Number of employees | 5000 |
| Parent | Apollo Global Management |
| Website | www |
Barnes, legally Barnes Group Inc., is a global industrial technology and aerospace manufacturer and service provider.[2]
It was founded in 1857[1] by the great-grandfather of Wallace Barnes,[3] who was appointed president in 1964, the same year in which the company added the Bowman Distribution Group to its Associated Spring enterprise. Two decades later, it became involved in the aerospace industry.
As of 1991, the Barnes family owned a third of the company's stock; in that year, William R. Fenoglio - the first non-family member to hold the position of chief executive - took over from Barnes, leaving no Barnes in the executive suite, though some remained on the board.[3]
In October 2024, Barnes Group announced that it had entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management.[4] In January 2025, the merger was successfully completed.[5]
References
- ↑ 1.0 1.1 "Company Overview of Barnes Group Inc.". https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=254193.
- ↑ "Barnes Group Inc.". http://www.hoovers.com/company/Barnes_Group_Inc/rfrxti-1.html.
- ↑ 3.0 3.1 Cuff, Daniel. "Barnes Names a Chief From Outside Family". https://www.nytimes.com/1991/02/19/business/business-people-barnes-names-a-chief-from-outside-family.html.
- ↑ "Barnes Group to Be Acquired by Apollo Funds for $3.6 Billion". Business Wire. October 7, 2024. https://www.businesswire.com/news/home/20241006270417/en/Barnes-Group-to-Be-Acquired-by-Apollo-Funds-for-3.6-Billion.
- ↑ "Apollo Funds Complete Acquisition of Barnes Group". Business Wire. January 27, 2025. https://www.businesswire.com/news/home/20250126866838/en/Apollo-Funds-Complete-Acquisition-of-Barnes-Group.
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