ACQUISITION: TruArc Acquires TransTechnology Segment

John Wolz

TruArc Company LLC acquired the assets of TransTechnology Corporation�s Engineered Rings USA Inc.\
TruArc is a newly formed entity headed by president Peter Lowe and founded with former TTERUSA management and SeaView Capital LLC of Providence, RI. Terms of the deal were not disclosed.
The buyout was funded with a $4 million loan from Fleet Capital.
All of the 73 former TTERUSA employees will be retained, and there are no current plans to move any part of the company.
Milburn, NJ-based TruArc manufactures Waldes, TruArc and IRR brand retaining rings.
TruArc has a plant in Irvington, NJ, and a sales office in Detroit. Web: truarc.com. �2002 FastenerNews.com