- TriMas Corp (NASDAQ:TRS) has agreed to acquire private, family-owned companies, Omega Plastics, and TFI Aerospace, for undisclosed financial terms.
- Omega Plastics will be added to TriMas Packaging and TFI Aerospace to TriMas Aerospace.
- Omega specializes in manufacturing custom components and devices for drug delivery, diagnostic and orthopedic medical applications, and components for industrial applications.
- Omega, located in Clinton Township, Michigan, is expected to generate ~$18 million in revenue in FY21.
- Located near Toronto, TFI is a manufacturer and supplier of specialty fasteners used in various applications, mainly for the aerospace end market. TFI is expected to generate ~$6 million in revenue in FY21.
- TriMas held cash and equivalents of $136.96 million as of September 30, 2021.
- TriMas expects to close the Omega deal by year-end. It had closed the TFI deal simultaneously with signing.
- Price Action: TRS shares are trading lower by 2.91% at $33.73 on the last check Monday.
