Barnes Group Inc. Reports Q3 2024 Financial Results and Announces Acquisition by Apollo Funds

Summary

Barnes Group Inc. reported Q3 2024 financial results with sales of $388 million, up 7% YoY, and organic sales growth of 4%. Adjusted EBITDA margin increased by 140 bps to 19.8%. The company also announced an all-cash acquisition by Apollo Funds for $3.6 billion, or $47.50 per share. The transaction is expected to close in Q1 2025. Exhibit 99.1 provides further details on the financial performance and the acquisition agreement.