WKB acted for MB Aerospace, which is a portfolio company of Blackstone, in respect of the Polish aspects of the sale of the operational group to Barnes Group for an enterprise value of approximately $740 million. Simpson Thacher & Bartlett acted as the lead counsel to MB Aerospace.
MB Aerospace is a leading provider of precision aero-engine component manufacturing and repair services for major aerospace and defense engine OEMs, Tier 1 suppliers, and MRO providers. MB Aerospace has its corporate headquarters in Motherwell, U.K., with an additional 10 facilities and approximately 1,450 employees across the U.S., U.K., Poland and Taiwan.
Barnes Aerospace, which comprises part of the Barnes Group, is 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.
Blackstone is the world’s largest alternative asset manager, with more than $990 billion in assets under management as of 31 March 2023. Blackstone aims to serve institutional and individual investors by building strong businesses that deliver lasting value, and currently has more than 230 portfolio companies.
The transaction is subject to the receipt of regulatory approvals and the satisfaction of other customary closing conditions, and is expected to close in the fourth quarter of 2023.
You can find more information at: https://www.mbaerospace.com/about/news/barnes-to-acquire-mb-aerospace/