TriMas Acquires Allfast Fastening Systems

TriMas Corporation– a diversified global manufacturer of engineered and applied products – announced that it entered into an agreement 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 leading 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.

Over the past several years, Allfast has demonstrated strong revenue growth and a profitability level that would have been accretive to TriMas’ existing aerospace businesses and to the Company overall. The acquisition further strengthens TriMas’ growing aerospace business, is strategically aligned with the Company’s objective to grow its higher margin business platforms, and will enable the Company to better leverage expected strong growth rates in the aerospace sector.