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Stock Market & Financial Investment News

News Breaks
July 28, 2014
10:01 EDTTRSTriMas acquires Lion Holdings Pvt for $27M in cash
TriMas Corporation announced that it has acquired Lion Holdings Pvt. Ltd. for $27M, paid in cash at closing. The transaction closed July 25 at which time Lion Holdings became part of the company's Packaging segment. Lion Holdings, headquartered in Greater Noida, India, specializes in the manufacture of highly engineered dispensing solutions. From its three locations in India and Vietnam, Lion Holdings generated approximately $10M in revenue for the 12 months ended June 30.
News For TRS From The Last 14 Days
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October 28, 2014
08:13 EDTTRSTriMas says 'positioned' to drive shareholder value in FY15
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08:11 EDTTRSTriMas narrow FY14 EPS view to $1.90-$1.95 from $1.85-$1.95, consensus $1.86
Sees FY14 revenue to increase 6% to 7% as compared to 2013. FY14 revenue consensus $1.48B. Based on third quarter results and its current projections for the remainder of FY14, the company raised its 2014 Free Cash Flow guidance to be between $70M-$80M from $55M-$65M.
08:06 EDTTRSTriMas reports Q3 EPS from cont. ops. ex-items 47c, consensus 43c
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October 20, 2014
10:01 EDTTRSTriMas 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.

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