TriMas Corp.

TriMas Corp.

TriMas Corp.

Overview
Date Founded

1989

Headquarters

38505 Woodward Avenue,Suite 200,Bloomfield Hills, MI 48304

Type of Company

Public

Employees (Worldwide)

4,000

Industries

Industrial Machinery & Manufacturing
Wholesale: Industrial Products & Manufacturing
Other Manufacturing

Company Description

TriMas Corp. designs, manufactures and distributes engineered and applied products that serve the industrial, commercial and consumer end markets. The company operates through the following business segments: Packaging, Energy, Aerospace & Defense, Engineered Components, Cequent Asia Pacific and Cequent Americas segment. The Packaging segment designs, manufactures and distributes highly engineered closure and dispensing systems, including steel and plastic industrial and consumer packaging applications. Its products include steel and plastic closure caps, drum enclosures, rings and levers, and specialty plastic closure and dispensing systems, such as foamers, pumps and specialty sprayers. The Energy segment designs, manufactures and distributes metallic and non-metallic gaskets, bolts, industrial fasteners and specialty products for the petroleum refining, petrochemical, oil field and industrial markets. The Aerospace & Defense segment designs, develops and manufactures diverse range of products for use in focused markets within the aerospace and defense industries. Its products include aerospace fasteners and military munitions components. The Engineered Components segment designs, manufactures and distributes cylinders for the transportation, storage and dispensigines and parts, gas compressors, gas production equipment, meter runng of compressed gases, well as a variety of natural gas powered ens, engine electronics and chemical pumps all engineered for use in oil and natural gas production. The Cequent, which includes Cequent Asia Pacific and Cequent Americas segments, designs, manufacturers and distributes variety of quality, custom-engineered towing, trailer and cargo management products and other accessories. TriMas was founded by Brian P. Campbell in May 1986 and is headquartered in Bloomfield Hills, MI.

Executives & Employees

President & Chief Executive Officer

Chief Financial Officer

Senior Vice President, General Counsel, Chief Compliance Officer & Corporate Secretary

President, Arrow Engine Company

President, Aerospace

Vice President, Investor Relations & Communications

Vice President, Tax & Treasury

Vice President, Corporate Human Resources

President, Norris Cylinder-Engineered Components

President, Energy Segment

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Board of Directors

Founder at World Capital Partners LLC

President & Chief Executive Officer at Mears Investments LLC

Chairman, Chief Executive Officer & President at Hexcel Corp.

President & Chief Executive Officer at TriMas Corp.

Chief Executive Officer & Director at Westport Fuel Systems, Inc.

Former Vice President at Harman Becker Automotive Systems, Inc.

Founder & Managing Member at The Heartland Industrial Group LLC

Former Chairman, President & Chief Executive Officer at Comerica, Inc.

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Owners & Shareholders
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Champlain Investment Partners focuses on investment strategies that seek to provide superior absolute returns and manage risk. The firm begins their investment process with a defined universe of established and profitable small- and mid-cap companies. They use distinct sector-specific factors to discriminate against various business risks. The firm seeks to reduce business risk by looking at various financial attributes, business model attributes and management characteristics, focusing on companies with high returns, strong cash flow, low capital requirements, above average potential for growth and effective management. For those companies that pass through the first two phases of this process, Champlain conducts a fair value analysis. They evaluate relative value and historical transactions, discounted cash flow and strategic or franchise value. Finally, they look at a company's fundamentals and competitive environment to help them understand if current expectations about long-term earnings power are too optimistic or too pessimistic. The firm strives to buy only companies at a discount to their assessment of fair value, thereby creating a margin of safety. Champlain will sell a stock trading above what they have identified as its fair value.

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Advisory Research, Inc. manages over $10.0 billion in total assets for some of the nation’s wealthiest individuals, numerous privately-held companies, university endowments, private and public foundations, and pension and profit-sharing plans. We have over three decades of experience investing for our clients. Our disciplined, value-based investment style seeks to provide our clients with exceptional absolute and risk-adjusted rates of return. Our experience and dedication, always coupled with expert client service, have allowed us to build a high level of trust and satisfaction with our clients. The Advisory Research investment philosophy and process are firmly grounded in time-tested academic research and the extensive experience of our professional investment team. This combination has produced a unique investment approach based on internally-generated fundamental analysis. As value investors we use a traditional bottom-up analysis to look for companies that are selling at a discount to their net asset value. Our highly disciplined, long-term approach to value investing guides us in creating portfolios of securities that we believe offer the potential for higher returns with lower risk relative to other equity investments.

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Skyline Asset Management specializes in small-cap value equity management. They look for stocks with below average valuations and attractive earnings growth prospects. They employ in-house, fundamental, bottom-up research to identify and select investments in the small-cap sector. The firm selects select stocks with low P/E ratios based on trailing, not forecasted, earnings. Skyline looks for companies with attractive earnings growth outlooks. They focus on underfollowed, neglected, out-of-favor stocks. Skyline targets companies with market-caps that are within the range of the Russell 2000 Index.

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Recent Transactions
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TriMas Corp. purchases Parker-Hannifin Corp. /Tolleson Operations from Parker-Hannifin Corporation

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purchases Horizon Global Corp. from TriMas Corp.

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TriMas Corp. purchases Allfast Fastening Systems LLC

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Insider Transactions
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Transaction Advisors
Legal Advisor

Advised onTriMas Corp. purchases Allfast Fastening Systems LLC

Auditor

Advised onTriMas Corp. issued Common Stock

Underwriter

Advised onTriMas Corp. issued Common Stock

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Legal Advisor

Advised onTriMas Corp. purchases Allfast Fastening Systems LLC

Legal Advisor

Advised onTriMas Corp. purchases Allfast Fastening Systems LLC

Associate

Advised onTriMas Corp. purchases Allfast Fastening Systems LLC

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Advisors & Consultants
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Legal Advisor

Partner at Cahill Gordon & Reindel LLP

Legal Advisor

Partner at Cahill Gordon & Reindel LLP

Consultant

Vice President of Operations at TriMas Corp.

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Clients

DowDuPont, Inc. operates as a holding company, which develops specialty materials, chemicals, and agricultural products. It operates through the following divisions: Agriculture, Materials Science and Specialty Products divisions. The Agriculture division offers a complete portfolio of products and technologies, and a robust pipeline of germplasm, traits and crop protection. The Materials Science division focuses to its market segments, offering a broad and deep portfolio of products and technologies to help customers. The Specialty Products division operates through the five businesses: Electronic Technologies, Protection Solutions, Nutrition & Health, Industrial Biosciences and Sustainable Solutions. The company is headquartered in Midland, MI.

Northrop Grumman Corp. engages in the development and provision of security products and solutions. It operates through the following segments: Aerospace Systems, Mission Systems and Technology Services. The Aerospace Systems segment designs, develops, integrates and produces manned aircraft, autonomous systems, spacecraft, laser systems, microelectronics and other subsystems. It operates through three business areas: Autonomous Systems, which designs, develops, manufactures, and integrates ISR autonomous systems for tactical and strategic missions; Manned Aircraft, which designs, develops, manufactures, and integrates airborne C4ISR, long range strike aircraft systems, tactical aircraft systems and directed energy systems; and Space, which designs, develops, manufactures, and integrates spacecraft systems, subsystems, sensors and communications payloads in support of space C4ISR and science. The Mission Systems segment engages in providing end-to-end mission solutions and multifunction systems for intelligence community, international, federal civil and commercial customers. This segment operates through three business areas: Sensors and Processing, which delivers products, systems and services that support ground-based and airborne fixed and rotary wing platforms with radar, electronic warfare, communications, command and control, signals intelligence, and situational awareness mission systems; Cyber and ISR, which delivers products, systems and services that support full spectrum cyber solutions, space based payload and exploitation systems, space-based C2 and processing systems, and enterprise integration of multi-intelligence mission data across all domains; and Advanced Capabilities, which provides integration and interoperability of net enabled battle management, sensors, targeting and surveillance systems. The Technology Services segment provides logistics solutions supporting the full life cycle of platforms and systems for global defense and federal civil customers. It also operates through three business areas: Global Logistics and Modernization, which provides global logistics support, sustainment, operations and modernization for air, sea and ground systems and weapon system components; Advanced Defense Services, which provides defense and security services, including cyber; network operations and security; system and software modernization; land forces sustainment; and training to strengthen the national security of the U.S. and its allies; and System Modernization and Services, which provides full life cycle information systems modernization and sustainment, primarily in support of civil government agencies. The company was founded by John K. Northrop, Thomas V. Jones, and Kent Kresa in 1939 and is headquartered in Falls Church, VA.

L Brands, Inc. engages in the retail business. It is focused on women's intimate and other apparel, personal care and beauty categories. It operates its business through Victorias Secret and Bath & Body Works International segment. Its brands include Victorias Secret, Bath and Body Works, Pink, La Senza, and Henri Bendel. The company was founded by Leslie Herbert Wexner in 1963 and is headquartered in Columbus, OH.

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Key Stats and Financials As of 2016
Market Capitalization
$1.09B
Total Enterprise Value
$1.42B
Earnings Per Share
$-0.88
Revenue
$803M
Net Profit
$-39.8M
EBITDA
$111M
EBITDAMargin
13.86%
Total Debt
$375M
Total Equity
$500M
Enterprise Value Sales
1.77x
Enterprise Value EBITDAOperating
12.78x
TEVNet Income
-35.7x
Debt TEV
0.26x
Three Year Compounded Annual Growth Rate Of Revenue
-16.82%
Five Year Compounded Annual Growth Rate Of Revenue
-5.83%
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Investors
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Metaldyne Corp. designs and supplies metal formed components. Its products include valve bodies, end cover assemblies, clutch modules, hollowed shafts, powder metal carriers, input/output hubs, connecting rods, rubber dampers, viscous dampers, isolation pulleys, differential gears, sliding sleeves, splined sleeves, suspension components and pistons & housings. The company was founded in 1984 and is headquartered in Plymouth, MI.

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The Heartland Industrial Group was established to acquire and expand industrial companies in sectors ripe for consolidation and growth. Heartland builds value by investing in well-positioned industrial companies, whose talent, technology, assets and market position afford them the opportunity to be a platform for industry consolidation and value-creation.Known as an industrial platform scale up, this differentiated investment model targets sectors such as aerospace components and materials, automotive suppliers, capital goods, chemicals, plastics conversion, metal working and other sectors of the US manufacturing economy where conditions are conducive to buildup strategies.Heartland conducts front-end, in-house and consultant-supported research using customized methods. Platforms are launched only where research reveals unique value generating strategies that can result in the operational scale, business focus and competitive advantage.The firm has a recruiting program designed to outfit each portfolio platform company with a high-powered and heavily incentivized world-class CEO and top management team. To enhance the attractiveness of the CEO position at their platform companies, Heartland makes each CEO an outside partner of the firm, with a large stake in his platform, as well as allows participation in Heartland's overall profits.Platform companies seek to generate value not simply through add-on acquisitions, but via an extensive tool kit of measures designed to create efficiency and bring more value to customers. These include consolidating acquisitions, major CAPEX projects, product innovation, process and technology upgrades, product line expansion and globalization and other strategic initiatives.Heartland's front-end emphasis on selection of only very high potential buildup platforms will be supplemented by a commensurate focus on positioning, seasoning and staging its platforms for optimal growth. Heartland prepares each platform to achieve the highest level of valuation possible.

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Masco Capital Corp. acquires companies in the US and abroad in the consumer home products, installation/service products for new construction, repair/remodeling and commercial distribution channels. Candidates for acquisition are companies that offer the prospect of sustainable, above average growth and profitability in an existing or complementary market, have a proven record of consistent profitability with minimum operating profit margins, are leaders in their particular market or technology, are entrepreneurial and are committed to enhancing the personal growth and development of their employees. Masco does not acquire turnarounds.

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Suppliers
Otter Tail Corp. Industrial Conglomerates | Fergus Falls, MN

Otter Tail Corp. is a holding company, which engages in the energy, infrastructure, and production businesses. It operates through the following segments: Electric, Manufacturing, and Plastics. The Electric segment generates, transmits, and distributes power and electric energy. The Manufacturing segment offers contract machining, metal parts stamping, fabrication, handling trays, and horticultural containers. The Plastics segment produces polyvinyl chloride pipes. The company was founded in 1907 and is headquartered in Fergus Falls, MN.

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Competitors
General Motors Company Automobiles - Washington, DC

General Motors Co. engages in the designing, manufacturing, and selling of cars, trucks, and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc. The firm operates through the following segments: GM North America, GM Europe, GM International Operations, GM South America, and Corporate. The company was founded by William C. Durant on September 16, 1908 and is headquartered in Detroit, MI.

Ford Motor Company Automobiles - Dearborn, Michigan

Ford Motor Co. engages in the manufacture, distribution, and sale of automobiles. It operates through the following segments: Automotive, Financial Services, Ford Smart Mobility, and Central Treasury Operations. The Automotive segment includes the sale of Ford and Lincoln brand vehicles, service parts, and accessories worldwide, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. The Financial Services segment includes its vehicle-related financing and leasing activities at Ford Motor Credit Company LLC . The Central Treasury Operations segment engages in decision making for investments, risk management activities, and providing financing for the Automotive segment. The Ford Smart Mobility segment designs, builds, grows, and invests in emerging mobility services. The company was founded by Henry Ford on June 16, 1903 and is headquartered in Dearborn, MI.

Berkshire Hathaway, Inc. Other Insurance Services - Omaha, NE

Berkshire Hathaway, Inc. engages in the provision of property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, General Re, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC, Berkshire Hathaway Energy, McLane Company, Manufacturing, Service and Retailing, and Finance and Financial products. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The General Re offers underwriting excess-of-loss, quota-share, and facultative reinsurance. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share reinsurance for insurers and reinsurers. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and domestic real estate brokerage and brokerage franchisor. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment involves providing fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and retailing. The Finance and Financial Products segment includes manufactured housing and consumer financing; transportation equipment, manufacturing and leasing; and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.