Continued Investment in Packaging Platform
Download Press Release
BLOOMFIELD HILLS, Michigan, April 30, 2019 – TriMas (NASDAQ: TRS) today announced that it has acquired Taplast S.p.A., a privately-owned designer and manufacturer of dispensers, closures and containers for the beauty and personal care, household and food packaging end markets, serving customers predominantly in Europe and the Americas. Taplast seeks to provide solutions to its customers by leveraging its deep commitment to engineering and innovation, and through its manufacturing facilities in Italy and Slovakia.
Founded 45 years ago by the Santagiuliana family, Taplast is recognized today as a global innovator and trendsetter in the dispensing and closure packaging space. Taplast has commercialized several award-winning products targeted to provide commercial solutions and end user benefits in aesthetics, feel, safety and e-commerce delivery, among others. Taplast has full manufacturing and tooling capabilities including injection molding for dispensers and closures, injection blow molding for containers, and assembly.
“We are excited to welcome Taplast, its principal owner, Paolo Santagiuliana, and its employees to TriMas and our family of businesses,” said Thomas Amato, President and Chief Executive Officer of TriMas. “Taplast has a strong brand name and comes with a wide range of complementary packaging end market products, including dispensers, foamers, single and multi-body caps, child resistant caps, jars, and specialty coffee dispensing pods. The acquisition of Taplast, and the recently announced acquisition of Plastic Srl, are examples of our commitment to invest in and accelerate the growth of our packaging platform.”
Taplast has manufacturing operations in Povolaro, Italy, and Levice, Slovakia, commercial locations in the United Kingdom, United States and France, and additional commercial representatives in Asia and South America. Taplast predominantly serves global, blue-chip customers in the beauty and personal care, household, and food and coffee packaging end markets. Taplast had revenue of approximately $32 million in 2018. The transaction closed April 29, 2019, and Taplast will be a wholly-owned division of TriMas’ Rieke business and will be reported in the Packaging segment.
Taplast was co-owned by Paolo Santagiuliana, son of the founder Evans Santagiuliana, and Alkemia Capital Partners of Milan, Italy. TriMas and Taplast, which was represented by the investment banking firm Alantra (Milan, Italy), worked exclusively to negotiate the terms of the transaction. “We look forward to continuing to leverage the innovation focus by the Taplast technical team to accelerate opportunities for global growth for our packaging business,” said Amato.
About TriMas
TriMas is a diversified global manufacturer and provider of products for customers in the consumer products, aerospace, industrial, petrochemical, and oil and gas end markets with approximately 4,000 dedicated employees in 16 countries. We provide customers with a wide range of innovative and quality product solutions through our market-leading businesses, which we report in three segments: Packaging, Aerospace and Specialty Products. The TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol “TRS,” and is headquartered in Bloomfield Hills, Michigan. For more information, please visit www.trimascorp.com.
Notice Regarding Forward-Looking Statements
Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to the Company’s business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; material and energy costs; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; competitive factors; future trends; the Company’s ability to realize its business strategies; the Company’s ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; information technology and other cyber-related risks; the performance of subcontractors and suppliers; supply constraints; market demand; intellectual property factors; litigation; government and regulatory actions, including, but not limited to, the impact of tariffs, quotas and surcharges; the Company’s leverage; liabilities imposed by debt instruments; labor disputes; changes to fiscal and tax policies; contingent liabilities relating to acquisition activities; the disruption of operations from catastrophic or extraordinary events, including natural disasters; the potential impact of Brexit; tax considerations relating to the Cequent spin-off; the Company’s future prospects; and other risks that are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2018. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law.
CONTACT:
Christine Parker
Manager, Investor Relations & Communications
(248) 631-5438
This email address is being protected from spambots. You need JavaScript enabled to view it.
