TriMas Completes the Divestiture of TriMas Aerospace [Yahoo! Finance]
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Source: Yahoo! Finance
BLOOMFIELD HILLS, Mich., March 16, 2026 BUSINESS WIRE )--TriMas (NASDAQ: TRS) today announced that it has completed the previously announced divestiture of the TriMas Aerospace business ("TriMas Aerospace") to PennAero, a portfolio company of Tinicum L.P. and funds managed by Blackstone, Inc. The transaction, first disclosed on November 4, 2025, was completed for approximately $1.45 billion in cash, subject to customary post-closing adjustments, with estimated net after-tax proceeds of approximately $1.2 billion. "This transaction represents a significant milestone in TriMas' ongoing transformation, further sharpening our focus and enhancing our financial flexibility," said Thomas Snyder, President and Chief Executive Officer. "As we noted previously, we expect to use the net proceeds to support organic growth investments, pursue strategically aligned acquisition opportunities and repurchase shares. Whether through customer-focused innovation, operational excellence, productivity i
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