- $34 million, plus future earnings contingency
- “complements … growth strategies”
TriMas has added Mac Fasteners to its Aerospace and Defense segment, which includes two plants in Ottawa, Kan.
TriMas Corporation completed a purchase of Mac Fasteners, a family-owned manufacturer of aircraft fasteners, for $34 million, plus an additional $6 million contingent on future operating results. The sale closed on October 25, and Mac Fasteners is now listed as part of the TriMas Aerospace and Defense segment.
“Mac Fasteners will enhance our product offering and add content to our platform serving the growing aerospace industry,” stated TriMas president and CEO David Wathen.
Mac Fasteners manufactures stainless steel aerospace fasteners used by OEMs, aftermarket repair companies, and commercial and military aircraft producers worldwide. Among its customers are Airbus, BAE Systems, Bombardier, Cessna, Embraer, Gulfstream, Honeywell Aerospace, Israel Aerospace Industries, Lockheed Martin, and Raytheon.
Mac Fasteners operates two adjacent plants in Ottawa, Kan., and generated revenues estimated at $17.5 million for the 12 months ended September 30, 2013.
Wathen said the " acquisition complements our growth strategies for our Aerospace-focused businesses by providing additional content, and broadens our distribution channels and customer base, while providing a more flexible manufacturing footprint.”
TriMas is a manufacturing conglomerate with six operating divisions, and its Aerospace and Defense segment includes Monogram Aerospace Fasteners, Martinic Engineering and NI Industries. Other products include precision-machined engineered parts for commercial and military aerospace, and munitions components.