11/12/2013 1:47:00 PM
HEADLINES
ACQUISITIONS – Mac Fasteners Acquired by TriMas Corp.
TriMas Corp. acquired Mac Fasteners Inc. for $34 million, with additional contingent consideration of up to $6 million, payable based on attainment of future operating results. The purchase price is subject to a net working capital adjustment as of the closing date.
The transaction closed on October 25, 2013, at which time Mac Fasteners became part of the TriMas’ Aerospace & Defense segment.
“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,” stated TriMas CEO David Wathen.
Mac Fasteners manufactures and distributes stainless steel aerospace fasteners for OEMs, aftermarket repair companies, and commercial and military aircraft producers. Headquartered in Ottawa, KS, Mac Fasteners generated approximately $17.5 million in revenue for the 12 months ended September 30, 2013.
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