TriMas Corporation Announces Bolt-On Acquisition in Energy Business
Company Continues to Expand Global Footprint and Product Portfolio in Europe
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)-- TriMas Corporation (TRS) a diversified global manufacturer of engineered and applied products announced today its Lamons energy business has expanded its manufacturing capability and product portfolio in Europe with the acquisition of Wulfrun Specialised Fasteners Limited for approximately $9.6 million. The purchase price is subject to a net working capital adjustment as of the closing date. The transaction closed on March 26, 2013.
With operations in the United Kingdom, Wulfrun is a manufacturer and distributer of specialty bolting and CNC machined components for use in critical oil and gas, pipeline and power generation applications. Wulfrun Specialised Fasteners Limited generated approximately $10.0 million in revenue for the 12 months ended December 31, 2012.
This new acquisition enhances our capabilities throughout Europe, said Kurt Allen, president of Lamons. The ability to provide specialty bolts to new and existing customers through our current network of branches, offer specialty bolts to our distribution customers who currently purchase them elsewhere, plus the ability to supply gaskets to existing Wulfrun customers provides Lamons with additional growth opportunities throughout Europe.
Headquartered in Bloomfield Hills, Michigan, TriMas Corporation provides engineered and applied products for growing markets worldwide. TriMas is organized into six reportable segments: Packaging, Energy, Aerospace & Defense, Engineered Components, Cequent Americas and Cequent Asia Pacific. TriMas has approximately 5,500 employees at more than 60 facilities in 17 countries. For more information, visit www.trimascorp.com.
Headquartered in Houston, Texas, Lamons is one of the largest gasket, fastener and specialty bolt suppliers in the world, committed to premium quality products and local service. It has major manufacturing, sales and service facilities located throughout the world. Lamons has maintained its market leadership with the widest selection of gasket and bolt materials ready for immediate delivery with leading technology and state-of-the-art manufacturing facilities that produce engineered products to custom specifications serving the petroleum refining, petrochemical, power generation, and pulp and paper industries. For additional information, visit www.lamons.com or call (713) 222-0284.
Source: TriMas CorporationCopyright Business Wire 2013