BLOOMFIELD HILLS — TriMas Corporation announced today that it has entered into an agreement to acquire CIFAL Industrial e Comercial Ltda and has acquired Trail Com Limited, for approximately $23 million USD in cash, in aggregate, with additional future payments based on post-acquisition operating results. The Company continues to expand its global footprint and product portfolio in growing end markets, consistent with its bolt-on acquisition strategy.
TriMas’ Lamons business entered into an agreement to acquire CIFAL Industrial e Comercial Ltda, located in Sao Paulo, Brazil. CIFAL is a recognized manufacturer and supplier of specialty fasteners and stud bolts, primarily to the oil and gas industry. CIFAL generated approximately $9 million USD in revenue for the 12 months ended June 30, 2012.
“We are excited to be expanding into Brazil, a region of the world heavily investing in the energy sector, including new refineries and off-shore platforms,” commented Kurt Allen, president of Lamons.
In addition, the Cequent Asia Pacific business announced the acquisition of Trail Com Limited completed on July 2, 2012. Headquartered in Auckland, New Zealand, Trail Com is a market leading distributor for towing accessories and trailer components. Trail Com generated approximately $12 million USD in revenue for the 12 months ended June 30, 2012.
Carl Bizon, president of Cequent Asia Pacific said, “This acquisition offers immediate opportunities to expand our existing product line into the New Zealand market, strengthens our retail and trade presence in Australia, and provides several opportunities for commercial and purchasing synergies.”
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