TriMas Agrees To Sell Aerospace Segment For All-Cash Purchase Price Of ~$1.45B To Affiliate Of Tinicum
Benzinga Newsdesk 12 months ago
News
TriMas (NASDAQ:TRS) announced today that it has entered into a definitive agreement to sell its Aerospace segment for an all-cash purchase price of approximately $1.45 billion to an affiliate of Tinicum L.P. (the
TriMas (NASDAQ:TRS) announced today that it has entered into a definitive agreement to sell its Aerospace segment for an all-cash purchase price of approximately $1.45 billion to an affiliate of Tinicum L.P. (the "Transaction"). Funds managed by Blackstone will be a minority investor in the Transaction. The purchase price represents an enterprise value multiple of approximately 18x last twelve months (LTM) third quarter 2025 adjusted EBITDA.
The closing is expected to occur by the end of the first quarter of 2026, subject to customary regulatory approvals and closing conditions. PJT Partners and BofA Securities are serving as financial advisors and have led the sale process, while Jones Day is serving as outside legal counsel for TriMas. Solomon Partners acted as financial advisor to the Purchaser. Kirkland & Ellis served as legal counsel to Takeoff Buyer, Inc. and to Blackstone, while Goodwin Procter advised Tinicum.