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Barnes To Sell Its Associated Spring And Hanggi Businesses To One Equity Partners

(RTTNews) - Barnes Group Inc. (B), a specialty industrial machinery provider, Thursday said it has agreed to sell its Associated Spring and Hänggi businesses to One Equity Partners in a deal valued at $175 million, inclusive of a $15 million seller promissory note due in 24 months.

The company intends to use the net proceeds from the transaction of $150 million to reduce debt incurred from the acquisition of MB Aerospace in August last year.

The transaction is expected to close early 2024.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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