TriMas announces two acquisitions

BLOOMFIELD HILLS—Officials at Bloomfield Hills-based TriMas Inc. (Nasdaq: TRS)  announced that it has recently signed agreements to acquire Omega Plastics, to be added to TriMas Packaging, and TFI Aerospace, to be added to TriMas Aerospace.

Omega, located in Clinton Township, specializes in manufacturing custom components and devices for drug delivery, diagnostic and orthopedic medical applications, as well as components for industrial applications. Omega uses its advanced in-house tool making capabilities, ISO13485-certified injection molding facility and ISO Class 8 clean room to provide its customers a faster product development cycle, from prototype development, testing and validation, to short and medium run production and assembly. Omega is an approved vendor to several leading medical device companies, with a long track record of unparalleled service and quality. Omega currently operates as a private, family-owned company, and is expected to generate approximately $18 million in revenue in fiscal year 2021.

Said Thomas Amato, TriMas president and CEO: “We look forward to expanding Omega’s production capacity to benefit its customers’ longer-term needs, while also leveraging Omega’s advanced tool making capabilities to add rapid prototyping to enhance TriMas Packaging’s speed-to-market advantage on innovation and new product designs. The addition of Omega further expands our pharmaceutical and nutraceutical product offerings into additional medical applications, which we believe is an attractive market for long-term growth.”

Located near Toronto, Ontario, TFI is a manufacturer and supplier of specialty fasteners used in a variety of applications, predominantly for the aerospace market. TFI currently operates as a private, family-owned company, and is expected to generate approximately $6 million in revenue in fiscal year 2021.

Said Amato: “This acquisition will further expand TriMas Aerospace’s fastener product lines with the addition of complimentary niche products that have an exciting growth trajectory resulting from TFI’s new program wins and the overall aerospace market recovery. We anticipate TFI’s customers will benefit from the added innovation and manufacturing depth offered by TriMas Aerospace, while TriMas Aerospace’s customers will enjoy additional product offerings.”

TriMas expects to close on Omega by the end of the year, and closed on TFI simultaneously with signing.

TriMas is a global manufacturer and provider of products for customers in the consumer products, aerospace and industrial markets, with approximately 3,300 employees in 11 countries. More at www.trimascorp.com.

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