TriMas Corp. (Nasdaq: TRS) has acquired Mac Fasteners Inc. for $34 million.
Mac Fasteners manufactures and distributes stainless steel aerospace fasteners used by equipment manufacturers, aftermarket repair companies and commercial and military aircraft producers.
TriMas, which provides engineered products, could pay up to $6 million more depending on the company’s operating results.
The buyer’s aerospace and defense segment contains: Monogram Aerospace Fasteners, a bolt technology company; Martinic Engineering, a parts manufacturer; and Ni Industries, a components manufacturer. Bloombfield Hills, Mich.-based TriMas will add Mac Fasteners to the segment.
The deal follows several other aerospace transactions, including Kohlberg Kravis Roberts & Co. LP’s (NYSE: KKR) acquisition of a stake in Westar Aviation Services Sdn Bhd. For $200 million in October, and Astronics Corp.’s (Nasdaq: ATRO) deal for AeroSat Corp. for $12 million.