Bloomfield Hills-based TriMas, a manufacturer of engineered and applied products, announced today it has purchased Allfast Fastening Systems, a supplier for the aerospace industry in southern California, for approximately $360 million.
The acquisition strengthens TriMas’ aerospace business, says Tom Aepelbacher, president of TriMas Aerospace.
“The combined product sets of Monogram Aerospace Fasteners, Mac Fasteners (acquired in 2013), and Allfast uniquely position TriMas to benefit from platform-wide supply opportunities and to grow at a level in excess of industry aircraft build rates,” Aepelbacher says. “In addition, we also expect to benefit from identified synergies, including leveraging combined purchasing activities, commercial initiatives, product development efforts, and sharing of better practices between businesses.”
Allfast’s rivets, bolts, fasteners, and installation tools are used in most commercial, defense, and general aviation platforms both in production and in service, Aepelbacher says.
TriMas has approximately 6,000 employees at more than 60 facilities in 19 countries.