Barnes (B) to Sell Spring & Hanggi Units to One Equity Partners

Barnes Group Inc. (B) recently entered into an agreement with One Equity Partners for the divestment of its Associated Spring and Hänggi businesses. The deal, valued at $175 million, includes a $15 million seller promissory note set to mature in two years. Barnes expects to utilize the net cash proceeds from the transaction, worth $150 million, to reduce the debt incurred from the MB Aerospace buyout in August 2023.The company’s shares increased 4.5% yesterday, ending the trading session at $31.77.Based in ...