TriMas aims to refine its focus as a packaging company, the corporation signaled Tuesday as it announced the divestiture of its aerospace division. The Michigan-based company will maintain its packaging business — the company’s largest division — and its specialty products segment, which manufactures steel cylinders.
TriMas reached an agreement to sell its aerospace segment to a subsidiary of manufacturing and industrial-focused investment firm Tinicum for an all-cash purchase price of approximately $1.45 billion. TriMas expects the deal to close by the end of Q1 2026. The aerospace segment’s customers include the likes of Airbus.
“Upon completion of this divestiture, we will be centered around a more focused, high-margin packaging platform,” said TriMas’ new CEO Thomas Snyder in a statement.
The streamlined TriMas will be acquisitive, Snyder said. “Our top priority is reinvesting to drive profitable growth, including through targeted high-quality acquisitions,” he said.
TriMas is currently working to better unify branding in its packaging business, Snyder described on the company’s earnings call last week. “Our goal is to consolidate the six-plus legacy brands into one consistent brand across TriMas Packaging, creating a more cohesive and compelling experience for our customers and our employees, enhancing cross-selling opportunities and simplifying and fine-tuning our message,” Snyder said.
During the third quarter, TriMas reported overall net sales of $269.3 million, with packaging generating $135.7 million. TriMas reported that the 4.2% year-over-year increase for packaging was in part driven by growth in beauty and personal care dispensers, while demand was weaker for closures and flexible packaging for food and beverage applications.
Earlier this year, TriMas alluded to an ongoing review of its portfolio. At the start of 2025 it also shed its Arrow Engine business, exiting the oil and gas market.
Other major packaging manufacturers have also taken steps this year to hone their packaging focus. Recent examples include Sonoco’s sale of its temperature-controlled solutions business for up to $725 million and International Paper’s pending sale of its global cellulose fibers business, each to private equity.
Another major packaging manufacturer, aluminum specialist Ball, completed the sale of its own aerospace business for $5.6 billion to BAE Systems early last year.
