Barnes Group Inc. announced on 6th March that it will be expanding its injection moulding technology business and for that, it is going to acquire Gammaflux LP. The terms of the deal have not been made public so far, although it is expected to close in the second quarter of 2017.
Gammaflux, which has its headquarters in Sterling, Virginia, is a supplier of sequential gate valve gate controls and temperature controllers for hot runners. The company also has offices in Illinois and Germany. The primary business of the company is serving the plastic injection moulding industry.
Bristol-based Barnes has been in the acquisition mode since 2012 when it bought Synventive, the hot runner manufacturer. Post that acquisition it added Otto Männer, Priamus, Thermoplay to its kitty. The most recent acquisition was that of the maker of rotating cube moulds for thin-wall packaging Foboha. To acquire it, Barnes paid $136 million.
The senior vice president of Barnes Group, Scott Mayo said that they are looking forward to adding Gammaflux control systems to their existing moulding solutions business.
He said, “Gammaflux adds technologically advanced, hot runner temperature control systems to our existing product portfolio, which enable moulders to achieve precise temperature control of the injection moulding process within the mould. This will ensure high-quality parts in the most critical moulding applications. These capabilities, when combined with Barnes Group’s leading hot runner, complex mould, and sensor technologies, create an unsurpassed offering to our customers in the plastic injection moulding industry.”
Once this acquisition completes subject to the meeting of certain closing conditions, Gammaflux will become an integral part of Barnes Group’s industrial segment. The acquisition has nothing to do with Barnes Group’s consolidated financial position or liquidity and will take place if certain closing conditions applicable to both the companies are satisfied. This acquisition when completed will mark the continuation of Barnes, a company formed more than 150 years back in 1857, to build an international plastics technology group.
Barnes Group is listed on the New York Stock Exchange. It is an industrial and aerospace manufacturer and service provider catering to clients globally.