Wardynski & Partners, working with Wachtell, Lipton, Rosen & Katz, has advised the Barnes Group on its acquisition of MB Aerospace for an enterprise value of USD 740 million. WKB Lawyers, working with Simpson Thacher & Bartlett, advised Blackstone portfolio company MB Aerospace on the sale.
According to a Barnes Group press statement, BofA Securities is providing the company with committed bridge financing for the acquisition. Closing is expected in the fourth quarter of 2023, pending regulatory approval.
According to WKB, the Barnes Group is part of Barnes Aerospace, "a global provider of complex fabricated and precision machined components and assemblies for turbine engines, nacelle, airframes, industrial gas turbines, and military OEMs. The acquisition of MB Aerospace is the largest acquisition in the history of the Barnes Group."
MB Aerospace is a provider of precision aero-engine component manufacturing and repair services for major aerospace and defense engine manufacturers, suppliers, and maintenance, repair, and operations providers. The company is based in the UK and operates ten facilities with over 1,400 employees in the US, UK, Poland, and Taiwan.
"The acquisition of MB Aerospace, the largest in Barnes’ history, is a transformational opportunity that is a significant catalyst for our already world-class aerospace business," Barnes President and CEO Thomas Hook commented. "MB is an exceptional strategic fit for us with highly complementary program focus, global operations, technical capabilities, and product offerings. Like Barnes Aerospace, MB possesses a history and culture of operational and technical excellence through a skilled workforce, and a global footprint that will help us drive productivity across the combined entity."
The Wardynski & Partners team included Partners Jakub Lerner, Monika Gorska, Marcin Wujczyk, Antoni Bolecki, Michal Glinski, and Joanna Prokurat and Lawyers Piotr Zabkiewicz, Andrzej Madala, Marcin Rzysko, Anna Olejniczak-Michalska, Karolina Romanowska, and Waldemar Orynski.
The WKB team included Partner Ben Davey and Lawyer John Kedzierski.