10/28/2010 9:37:00 AM
NEW BRIEFS

TriMas Corp. agreed to acquire the stock of South Texas Bolt & Fitting Inc. (STBF) for  $18 million in cash. The transaction is expected to close on November 1, 2010.

STBF will be integrated into TriMas’ Lamons business as part of the Company’s Energy segment.

Houston-based STBF manufactures and distributes customized stud bolts, industrial fasteners and specialty products for the oilfield and industrial markets. The company generated approximately $14.5 million in revenue for the twelve months ended June 30, 2010.

“We are pleased to purchase this complementary business which is a natural fit with our Lamons organization,” commented David Wathen, President and Chief Executive Officer of TriMas. “This acquisition, which is consistent with our bolt-on strategy, expands the product portfolio to better serve the needs of both companies’ customers. Incorporating this business into Lamons will also allow us to leverage Lamons’ extensive sales and service center network to drive incremental revenue.”

“This combination positions Lamons as the premier manufacturer and distributor of gaskets and bolts for the refining and petrochemical industries in North America,” said Kurt Allen, President of Lamons.

“While the synergies between these two businesses are significant, we are most excited about the ability to expand our product offerings to our customers. Lamons and STBF have similar cultures, with both businesses focused on superior quality and service levels, rapid turn-around times and an ability to supply customized products that meet specific customer requirements.”

Management also noted that Lamons recently opened two new sales and service center facilities to even better serve their global customers. The new facilities, located in Edmonton, Canada, and Grimsby, United Kingdom, maintain inventories of standard gaskets and stud bolts and boast state-of the-art manufacturing capabilities to fabricate special and customized gaskets and bolts to ensure quick service.