TriMas Acquires TFI Aerospace
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TriMas Corporation and TriMas Aerospace have successfully completed the acquisition of TFI Aerospace based in Orangeville, Ontario Canada. Located near Toronto, Canada, TFI is a leading manufacturer and supplier of specialty fasteners used in a variety of applications for aerospace and other industrial end markets. TFI previously operated as a private, family-owned company, and has generated approximately $6 million in revenue over the past year. This acquisition will further expand TriMas Aerospace’s fastener product lines with the addition of complimentary niche products that have an exciting growth trajectory resulting from TFI’s new program wins and overall market recovery. TriMas also anticipates TFI’s customers will benefit from the added innovation and manufacturing depth offered by TriMas Aerospace, while TriMas Aerospace’s customers will enjoy additional product offerings.
TFI Aerospace will continue to operate as an independent manufacturing site at its current location in Canada, led by VP General Manager, Thomas Squires, who along with his father Ted have been building and leading that business for several years leading up to this point. TriMas Aerospace president John Schaefer and some other key TriMas Aerospace senior leaders will be working closely with Thomas and the rest of the TFI team to integrate the business into TriMas Aerospace over the coming months. While relatively small in size compared to some of their other sites and businesses, TFI has some exciting growth opportunities in the next few years that they look forward to supporting.