Barnes Group to acquire robotic-grippers manufacturer for $410M

BY Joe Cooper

Bristol industrial-parts manufacturer Barnes Group Inc. announced Thursday it plans to pay $410 million to acquire an Italian maker of robotic grippers for industrial automation.

Barnes officials said the acquisition of Gimatic S.r.l. will move the company into the industrial automation market, which continues to grow with the accelerated adoption of automation and robotic technologies.

The automotive springs and aeroparts supplier said it will finance the acquisition with cash and borrowings under its existing credit agreement in a deal expected to close in the fourth quarter. Gimatic will operate as a new business unit under the automotive springs and aeroparts supplier's industrial segment.

Based in Brescia, Italy, Gimatic designs end-of-arm tooling systems in markets including automotive, health care, packaging and food and beverage. It has sales across Europe, North America and Asia, installing more than two million industrial robots.