TriMas Acquires Family-Owned Companies Omega Plastics, TFI Aerospace For Undisclosed Sum

TriMas Corp TRS has agreed to acquire private, family-owned companies, Omega Plastics, and TFI Aerospace, for undisclosed financial terms.
Omega Plastics will be added to TriMas Packaging and TFI Aerospace to TriMas Aerospace.
Omega specializes in manufacturing custom components and devices for drug delivery, diagnostic and orthopedic medical applications, and components for industrial applications.
Omega, located in Clinton Township, Michigan, is expected to generate ~$18 million in revenue in FY21.
Located near Toronto, TFI is a manufacturer and supplier of specialty fasteners used in various applications, mainly for the aerospace end market. TFI is expected to generate ~$6 million in revenue in FY21.
TriMas held cash and equivalents of $136.96 million as of September 30, 2021.
TriMas expects to close the Omega deal by year-end. It had closed the TFI deal simultaneously with signing.
Price Action: TRS shares are trading lower by 2.91% at $33.73 on the last check Monday.