TriMas to acquire Allfast Fastening
TriMas Corporation has agreed to acquire Allfast Fastening Systems Inc. for approximately $360 million.
Upon closure of the transaction, Allfast will become part of the company’s Aerospace segment, formerly known as the Aerospace & Defense segment.
Allfast is a global manufacturer of solid and blind rivets, blind bolts, temporary fasteners and installation tools for the aerospace industry with content on substantially all commercial, defense and general aviation platforms in production and in service. Headquartered in Southern California, Allfast generated approximately $55 million in revenue for the 12 months ended August 2014.
“Adding Allfast to our aerospace platform increases our leadership and growth potential in the aerospace industry,” said Dave Wathen, president and chief executive officer of TriMas Corporation. “This acquisition significantly accelerates our portfolio transformation focused on our strategic growth platforms. Allfast definitely fits the criteria – it is a well-run, high margin, strong cash flow business with a track record of revenue growth and even greater growth potential.”
“The combination of Allfast and TriMas’ Aerospace group is a truly exciting development for our employees and customers," said Jim Randall, president of Allfast. “The transaction will dramatically expand the product offering of both businesses, allowing the combined company to better support customer needs in a time of unprecedented growth in the aerospace market.”
INDUSTRIAL SUPPLY MAGAZINE
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