TriMas acquires Martinic Engineering for approximately $19M TriMas Corporation announced that it has acquired Martinic Engineering for approximately $19M. The purchase price is subject to a net working capital adjustment as of the closing date. The transaction closed on January 28, at which time Martinic Engineering became part of TriMas Corporation’s Aerospace and Defense segment.
TriMas completes Allfast acquisition TriMas announced that it has completed its acquisition of Allfast Fastening Systems for approximately $360M. The transaction closed on October 17, at which time Allfast became part of the company’s aerospace segment. The company previously announced the agreement to acquire Allfast on September 22. The acquisition was funded through an underwritten incremental $275M Senior Secured Term Loan A and additional borrowings under the company’s existing $575M Revolving Credit Facility. The incremental Term Loan A initially bears interest at LIBOR plus 1.875%, and may vary, consistent with the remainder of the Credit Facility, based on the company’s leverage ratio. The Term Loan A amortizes quarterly and matures on October 16, 2018.