TriMas To Buy Allfast Fastening Systems For About $360 Mln - Quick Facts

(RTTNews) - In a bid to strengthen its aerospace business, TriMas Corp. (TRS), a manufacturer of engineered and applied products, Monday said it will buy Allfast Fastening Systems, Inc. for nearly $360 million. Following the acquisition, Allfast will be a part of the company's aerospace segment. California-based Allfast is a manufacturer of tools and products for the aerospace industry with content on substantially all commercial, defense and general aviation platforms in production and in service. The company generated about $55 million in revenue for the 12 months ended August 2014. The estimated purchase price approximates a multiple of 12x to 13x of projected 2015 Pro Forma EBITDA, which TriMas expects will approximate less than 9.5x by the end of 2017.

The company expects to close the transaction by the end of October 2014.