TriMas Corp. (Nasdaq: TRS) is buying Allfast Fastening Systems Inc. for $360 million.
Allfast, headquartered in City of Industry, California, manufactures solid and blind rivets, blind bolts, temporary fasteners and installation tools for the aerospace industry. The company generated about $55 million in revenue for the 12 months ended August 2014. The purchase price works out to a multiple between 12x and 13x projected 2015 pro forma Ebitda.
The company will be part of TriMas' aerospace segment. The company bought Mac Fasteners Inc., a company that makes aerospace fasteners for equipment manufacturers, for $34 million. That deal also added to TriMas' aerospace segment.
TriMas has made several other acquisitions. In July, the company bought Lion Holdings Pvt. Ltd. for $27 million.
For more on activity in the manufacturing space, see Manufacturing Deals Reassemble 5 Significant Sectors.