Bloomfield Hills, Mich.-based TriMas Corp. has signed agreements to acquire Omega Plastics Inc. and TFI Aerospace to expand its TriMas Packaging and TriMas Aerospace platforms.
TriMas expects to close on Omega, an injection molding and mold making company, by the end of the year, and has already closed on TFI, a Dec. 13 news release said.
"We are excited to announce the agreement between TriMas and Omega," Thomas Amato, president and CEO of TriMas, said in the release. "We look forward to expanding Omega's production capacity to benefit its customers' longer-term needs.
"Omega's advanced toolmaking capabilities [will] add rapid prototyping to enhance TriMas Packaging's speed-to-market advantage on innovation and new product designs," Amato said. "The addition of Omega further expands our pharmaceutical and nutraceutical product offerings into additional medical applications, which we believe is an attractive market for long-term growth."
Clinton Township, Mich.-based Omega, which manufactures custom components and devices for drug delivery, diagnostic and orthopedic medical applications, and components for industrial applications, currently operates as a private, family-owned company, the release said. It is expected to generate about $18 million in revenue in 2021.
The company says it has 20 injection molding presses with clamp sizes ranging from 20-1,100 tons.
Orangeville, Ontario-based TFI manufactures metal fasteners for the aerospace market. TFI also currently operates as a private, family-owned company. It is expected to generate about $6 million in revenue in 2021.
The acquisition of TFI "will further expand TriMas Aerospace's fastener product lines with the addition of complimentary niche products that have an exciting growth trajectory resulting from TFI's new program wins and the overall aerospace market recovery," Amato added. "We anticipate TFI's customers will benefit from the added innovation and manufacturing depth offered by TriMas Aerospace, while TriMas Aerospace's customers will enjoy additional product offerings."
TriMas declined to comment further on the acquisitions in response to inquiry by Plastics News, including the terms of either deal.
Omega has in-house tooling capabilities, an ISO 13485-certified injection molding facility and an ISO Class 8 clean room. It offers prototype development, testing, production and assembly.
TriMas manufactures consumer products in aerospace and industrial markets, with about 3,300 employees in 11 countries.