TriMas (NASDAQ: TRS), the Bloomfield Hills, Michigan-based manufacturer of engineered and applied products, announced Monday it has acquired Omega Plastics and TFI Aerospace.
The companies will be added as TriMas Packaging and TriMas Aerospace, respectively.
Financial details were not disclosed.
Omega, located in Clinton Township, Michigan, specializes in manufacturing custom components and devices for drug delivery, diagnostic and orthopedic medical applications, as well as components for industrial applications.
Omega currently operates as a private, family-owned company, and is expected to generate approximately $18 million in revenue in fiscal year 2021.
TFI, headquartered near Toronto, is a manufacturer and supplier of specialty fasteners used in a variety of applications, predominantly for the aerospace end market.
TFI currently operates as a private, family-owned company and is expected to generate approximately $6 million in revenue in fiscal year 2021.
“We are excited to announce the agreement between TriMas and Omega,” said Thomas Amato, president and CEO of TriMas. “We look forward to expanding Omega’s production capacity to benefit its customers’ longer-term needs, while also leveraging Omega’s advanced tool making capabilities to add rapid prototyping to enhance TriMas Packaging’s speed-to-market advantage on innovation and new product designs. The addition of Omega further expands our Pharmaceutical & Nutraceutical product offerings into additional medical applications, which we believe is an attractive market for long-term growth.”