Industrial Machinery & Equipment M&A » By The Online Investor Staff, updated Mon., Nov. 29, 6:29 PM
Recent mergers and acquisitions in the Industrial Machinery & Equipment M&A category.
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Slide #72. TriMas Corporation — Mac Fasteners
Acquirer:
TriMas Corporation (NASDAQ:TRS)
Acquiree:
Mac Fasteners
Details:
TriMas Corporation (NASDAQ:TRS) - a diversified global manufacturer of engineered and applied products - announced today that it has acquired Mac Fasteners, Inc. for $34 million, with additional contingent consideration of up to $6 million, payable based on attainment of future operating results. The purchase price is subject to a net working capital adjustment as of the closing date. The transaction closed on October 25, 2013, at which time Mac Fasteners became part of the Company's Aerospace & Defense segment.
TriMas manufactures and provides products for customers in the consumer products, aerospace and industrial end markets. Co.'s segments are: Packaging, which consists primarily of the Rieke®, Taplast and Stolz brands, develops and manufactures dispensing products, polymeric and steel caps and closures, and polymeric jar products; Aerospace, which includes the Mac Fasteners™ brand, develops, qualifies and manufactures precision fasteners and machined products to serve the aerospace market; and Specialty Products, which includes the Norris Cylinder™ brand, designs, manufactures and distributes steel cylinders, machined metallic components, and wellhead engines and compression systems.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 14th percentile
(ranked lower than approx. 86% of all stocks covered)
Analysts' Target Price: TRS Stock Forecast Based on Zacks ABR data; powered by Xignite |
