TRS - TriMas agrees to buy Omega Plastics TFI Aerospace

TriMas (NASDAQ:TRS) has agreed to acquire Omega Plastics and TFI Aerospace (TFI). Located in Clinton Township, Michigan, Omega specializes in manufacturing custom components and devices for drug delivery, diagnostic and orthopedic medical applications, as well as components for industrial applications. The business, which will be added to TriMas Packaging, is estimated generate ~$18M in revenue in fiscal year 2021. The Omega deal is expected to close by the end of the year. Located near Toronto, Canada, TFI Aerospace produces specialty fasteners used in a variety of applications, predominantly for the aerospace end market. The business, which will be integrated within TriMas Aerospace, is expected to generate ~$6M in revenue in fiscal year 2021. TriMas CEO Thomas Amato commented, "We continue to execute on our core strategy of augmenting our growth through bolt-on acquisitions by leveraging our strong cash generation. After closing these two acquisitions, we expect our net leverage ratio

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TriMas agrees to buy Omega Plastics, TFI Aerospace