Transaction Highlights OEP's Carve-out Capability in Industrials

One Equity Partners ("OEP"), a middle market private equity firm, today announced it has completed the acquisition of engineered spring and precision components manufacturer Associated Spring (or "the Company") from global industrial technology and aerospace manufacturer Barnes Group Inc. (NYSE:B).

Founded in Bristol, Connecticut, Associated Spring is a leading manufacturer of custom parts, including engineered springs and high precision metal components, as well as stamped manufactured solutions and assemblies for industrial, medical, and automotive applications. The Company has a scalable, global operating footprint with six production facilities across the Americas, Europe, and Asia and over 800 employees worldwide.

"This acquisition is another example of OEP's ability to execute corporate carve-outs of attractive and specialized industrial assets from major industry players," said Ante Kusurin, Partner, One Equity Partners. "We believe Associated Spring is well-positioned in the global springs and stampings production sector, and is primed for growth as a major industrial supplier to growing and attractive segments including the aerospace and medical end markets."

The aerospace engineered springs and stampings market is estimated to be approximately $28 billion, and the medical engineered springs and stampings market is estimated to be around $41 billion. Both markets are expected to grow at a ~9% CAGR from 2022 to 2027. OEP believes that these tailwinds will help fuel organic growth alongside plans to grow through transformational add-on acquisitions.

"The Company's management team and I are eager to work with One Equity Partners to guide Associated Spring into its next chapter and build the Company into a stand-alone, market-leading player with advanced technical capabilities," said Jack Rababeh, Chief Executive Officer of Associated Spring. "We believe OEP's growth strategy, including organic expansion and partnership initiatives, will lead to deeper inroads within the expanding market segments we serve and drive overall growth for this business."

About One Equity Partners

One Equity Partners ("OEP") is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

About Associated Spring

With origins dating to 1857, Associated Spring has been a global leader in the engineered spring and precision metal component manufacturing arena with engineering, design and manufacturing facilities around the world. We serve as a one-stop, full-service shop for precision-engineered solutions. Utilizing mechanical springs, wire forms, washers, reed and flapper valves, precision stampings and assemblies, our products are built to meet and exceed our customers' requirements quickly and efficiently. Applications for our precision solutions serve the transportation, aerospace and defense, construction, energy, telecommunications, and industrial markets. Learn more at www.asbg.com.

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One Equity Partners Completes Acquisition of Associated Spring