BLOOMFIELD HILLS, Mich.—TriMas Corp. closed March 2 on the acquisition of Simi Valley, Calif.-based aerospace supplier RSA Engineered Products.
Terms of the deal, which was made public on Jan. 30, were not disclosed.
RSA designs, engineers and manufactures components, including air ducting, connectors and flexible joints, for military, commercial, regional and business jet applications. It employs 100 at its California facility and generates approximately $32 million in revenue. The company will become part of TriMas' Aerospace division, which reported $164.8 million out of the company's total $723.5 million in revenue in 2019.
The acquisition is part of Bloomfield Hills-based TriMas' strategy to grow its packaging and aerospace divisions through acquisitions.
"Our primary focus is on acquisition candidates to build out our packaging and aerospace platforms, as we believe the markets they serve offer the highest growth and performance profile," TriMas said in its year-end financial report to the U.S. Securities and Exchange Commission. "We typically seek 'bolt-on' acquisitions, in which we acquire another industry participant or adjacent product lines that expand our existing product offerings, gain access to new customers, end markets and distribution channels, expand our geographic footprint and/or capitalize on scale and cost efficiencies."
RSA previously was owned by private equity firms Chicago-based Merit Capital Partners and Los Angeles-based Cornerstone Capital Holdings.
Houlihan Lokey served as the exclusive financial adviser and Much Shelist P.C. served as legal adviser to RSA on the deal.