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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 reportable segments are: Packaging, which develops and manufactures a range of dispensing products, polymeric and steel caps and closures, polymeric jar products, and dispensers for fill-ready bag-in-box applications; Aerospace, which develops, qualifies and manufactures tubular products and assemblies for fluid conveyance, and machined products and assemblies to serve the aerospace and defense market; and Specialty Products, which designs, manufactures and distributes steel cylinders, wellhead engines and compression systems for use within industrial markets.
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Hold (2.50 out of 4) 4th percentile
(ranked lower than approx. 96% of all stocks covered)
Analysts' Target Price: TRS Stock Forecast Based on Zacks ABR data; powered by Xignite |