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TriMas announces bolt-on acquisition in aerospace segment

TriMas Corporation – a diversified global manufacturer of engineered and applied products – announced today that it has acquired certain assets and personnel related to Parker Hannifin's Tolleson, Arizona facility, which manufactures complex machined parts for the aerospace industry. The transaction closed on November 2, 2015, at which time the facility became part of the TriMas Aerospace group.

In connection with the transaction, Martinic Engineering (a division of TriMas Aerospace) and the Tolleson facility will continue to provide machining and assembly of products, and prototyping, for the Fluid Systems Division of Parker Hannifin under a long-term agreement. The current run-rate from this transaction is expected to add approximately $12 million to $15 million in incremental annual revenue.

“We are excited to add this world-class manufacturing operation with an extremely talented and experienced team to our Aerospace family,” said Tom Aepelbacher, president of TriMas Aerospace. "This acquisition demonstrates our ongoing commitment to grow our aerospace business and significantly complements Martinic Engineering. The combination will enhance our relationship with existing customers, provide capacity for growth and expand our manufacturing capabilities and product offerings.”

“TriMas Aerospace has been a successful supplier to Parker Aerospace,” said Guy Martin, group vice president, Operations – Airframe & Actuation of Parker Aerospace. “This is a natural combination and a win-win for both organizations. We look forward to building upon this partnership in the future.

Press release issued by TriMas Corporation on November 3, 2015

 

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