TriMas has entered into a definitive agreement to sell its Aerospace division to an affiliate of Tinicum L.P. The purchase price is approximately USD 45 billion in cash. The purchase price is approximately USD 1.45 billion in cash; Blackstone funds will participate as a minority investor. Completion is planned by the end of the first quarter of 2026.
According to the company, the purchase price corresponds to an enterprise value of around 18 times the adjusted EBITDA of the last twelve months up to Q3/2025. TriMas justifies the move with the aim of focussing the portfolio and increasing the enterprise value. In future, the Group intends to focus its activities more strongly on a high-margin packaging platform business and also examine targeted acquisitions for this purpose. To this end, a Strategic Investment Committee has been set up to prioritise potential acquisitions and evaluate options for repaying capital and strengthening the balance sheet.
Buyer, structure and consultant
The buyer is a Tinicum affiliate; Blackstone will be a minority investor. PJT Partners and BofA Securities advised the seller, Jones Day acted as legal advisor. On the buyer's side, Solomon Partners acted as financial advisor and Kirkland & Ellis and Goodwin Procter as legal advisors.
What stays with TriMas - and what goes
With the sale, TriMas is parting with a division that, according to TriMas, supplies highly specialised fasteners and precision components for civil aviation and defence requirements. The aerospace division generated sales of around USD 374 million in the last twelve months, operates nine plants and employs around 1,250 people. During the transition phase, TriMas intends to ensure the supply of aerospace customers. The remaining business will be expanded to include the Packaging activities be centred.
Timetable and conditions
Completion is subject to customary approvals and closing conditions. The company points out that the timetable and expected effects may change due to regulatory and market-related factors.
Source: TriMas
