BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--
TriMas Corporation (NASDAQ: TRS) — a diversified global manufacturer of
engineered and applied products — announced today that it has acquired
Martinic Engineering, Inc. for approximately $19 million. The purchase
price is subject to a net working capital adjustment as of the closing
date. The transaction closed on January 28, 2013, at which time Martinic
Engineering became part of TriMas Corporation's Aerospace and Defense
segment.
Founded by Tonci Martinic in 1978, Martinic Engineering, located in
Stanton, California, manufactures highly-engineered, precision machined,
complex parts for commercial and military aerospace applications,
including auxiliary power units, as well as electrical, hydraulic and
pneumatic systems. Martinic Engineering generated approximately $13
million in revenue for the 12 months ended December 31, 2012. Mr.
Martinic will remain with the company as its general manager.
"This is the type of business we look for when adding to our portfolio —
a business with products that are highly-engineered, and difficult to
manufacture," said Dave Wathen, president and chief executive officer of
TriMas Corporation. "This acquisition complements our growth strategies
for our Aerospace and Defense segment by providing additional OE and
aftermarket opportunities."
"Martinic Engineering will enhance our customer base in the aerospace
and defense industry," said David Adler, president of Monogram Aerospace
Fasteners. "This acquisition gives us the opportunity to offer a broader
product portfolio and provides a platform for further growth with
current and new customers."
About TriMas
Headquartered in Bloomfield Hills, Michigan, TriMas Corporation (NASDAQ:
TRS) provides engineered and applied products for growing markets
worldwide. TriMas is organized into six reportable segments:
Packaging, Energy, Aerospace & Defense, Engineered Components, Cequent
Americas and Cequent Asia Pacific. TriMas has approximately 4,500
employees at more than 60 different facilities in 17 countries. For more
information, visit www.trimascorp.com.
About Monogram Aerospace Fasteners
With more than 120 years of service to the fastener industry, Monogram
Aerospace Fasteners has established itself as the recognized leader in
blind bolt technology to the aerospace industry. Headquartered in Los
Angeles, California, Monogram serves the world's markets through a
network of dedicated sales professionals and authorized distributors.
Monogram's pioneering spirit in aerospace engineering has brought to
market a diverse collection of blind bolts—Visu-Lok®, Composi-Lok®,
Radial-Lok® and the OSIBolt®.
TriMas Corporation
Christine Parker
Communications Specialist
(248)
631-5438
christineparker@trimascorp.com
Source: TriMas Corporation
News Provided by Acquire Media
