BLOOMFIELD HILLS, Mich., 31 Oct. 2013. TriMas Corp. (NASDAQ:TRS), a diversified global manufacturer of engineered and applied products, has acquired Mac Fasteners Inc. for $34 million, with additional contingent consideration of up to $6 million payable based on attainment of future operating results. Mac Fasteners is now part of TriMas Corp.’s Aerospace & Defense segment.
“Mac Fasteners will enhance our product offering and add content to our platform serving the growing aerospace industry,” says David Wathen, president and chief executive officer of TriMas Corp. "This 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.”
Mac Fasteners in Ottawa, Kansas, is a manufacturer and distributor of stainless-steel aerospace fasteners used by OEMs, aftermarket repair companies, and commercial and military aircraft producers.
“The acquisition of Mac Fasteners broadens our product offering and provides additional access to large global customers in the aerospace OE and aftermarket,” explains David Adler, president of TriMas’ Aerospace and Defense segment. “This combination will enable us to better serve the needs of both companies’ customers by providing a superior product portfolio and provide additional manufacturing capability and flexibility.”