TriMas in Bloomfield Hills, a global manufacturer and provider of products in the consumer products, aerospace, and industrial markets based, today announced it has signed agreements to acquire Omega Plastics in Clinton Township and TFI Aerospace in Ontario, Canada.
Omega will be added to the company’s packaging division and TFI will be added to its aerospace division. Omega specializes in manufacturing custom components and devices for drug delivery, diagnostic, and orthopedic medical applications, as well components for industrial applications.
“We are excited to announce the agreement between TriMas and Omega,” says 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.”
Omega leverages its in-house tool making capabilities, injection molding facility, and clean room to provide its customers a faster product development cycle from prototype development, testing and validation, to short and medium run production and assembly.
It is an approved vendor to several leading medical device companies. Omega currently operates as a private, family-owned company, and is expected to generate approximately $18 million in revenue in fiscal year 2021.
TFI is a leading manufacturer and supplier of specialty fasteners used in a variety of applications, predominantly for the aerospace end market. It currently operates as a private, family-owned company, and is expected to generate approximately $6 million in revenue in FY21.
“This acquisition will further expand TriMas Aerospace’s fastener product lines with the addition of complementary niche products that have an exciting growth trajectory resulting from TFI’s new program wins and the overall aerospace market recovery,” says Amato.
“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.”
The company is expected to close on Omega by the end of the calendar year, and closed on TFI in conjunction with the signing of the agreement.