Tinicum to acquire the aerospace segment from TriMas for $1.45bn.

Tinicum, a private investment firm, agreed to acquire the aerospace segment from TriMas, a company that designs and manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets, for $1.45bn. “This transaction represents a win for our employees, our shareholders and the future of our business. Upon completion of this divestiture, we will be centered around a more focused, high-margin packaging platform that will enable us to capitalize on long-term growth and deliver superior value. Our top priority is reinvesting to drive profitable growth, including through targeted high-quality acquisitions. In support of that, we’ve established a Strategic Investment Committee, which will guide disciplined evaluation and prioritization of potential acquisitions that best align with our growth strategy. This committee will also actively evaluate additional options, including returning capital to shareholders and strengthening our balance sheet,” Thomas Snyder, TriMas President & Chief Executive Officer.