BLOOMFIELD HILLS, Michigan – TriMas Corporation (NASDAQ: TRS) – a diversified global manufacturer of engineered and applied products – today announced it has acquired the remaining 30 percent interest of Arminak & Associates, LLC for cash, plus an earn-out based on the future success of the business. The transaction closed on March 11, 2014. Helga Arminak will remain as president of Arminak and the company will continue to operate as part of the Company’s Packaging segment. TriMas had previously acquired a 70 percent share of the business in February 2012.
“Due to the success achieved during the first two years, we are pleased to acquire the remaining interest of Arminak,” said Dave Wathen, president and chief executive officer of TriMas Corporation. “The synergies from the initial acquisition have proven great and have enabled us to further complement our packaging growth strategies for the future.”
Arminak & Associates is a leader in the design, manufacture and supply of foamers, lotion pumps, fine mist sprayers and other packaging solutions for the cosmetic, personal care, beauty aids and household product markets, and is headquartered in Southern California.
“This successful partnership has enabled us to serve the needs of both companies’ customers by providing a superior product portfolio, enhanced design and innovation capabilities, and improved global manufacturing flexibility,” said Lynn Brooks, president of Rieke Packaging Systems. “Helga and her team are committed to continuing to provide cutting-edge technology with speed, agility and flexibility to meet every customer’s needs.”
The Sage Group served as exclusive financial advisor to Arminak.