TriMas (NASDAQ:TRS) announced on March 16, 2026, the successful completion of the sale of TriMas Aerospace to PennAero, a portfolio company of Tinicum and funds managed by Blackstone.
The all-cash transaction was valued at approximately $1.45 billion, delivering estimated net after-tax proceeds of $1.2 billion.
This divestiture, which was first initiated following a strategic review in early 2025, represents a fundamental shift in the company’s portfolio and capital structure.
With the aerospace segment removed—a division that generated roughly $374 million in revenue over the last twelve months—TriMas is now realigning its operations around its two remaining segments: TriMas Packaging and Specialty Products.
For the full year 2025, these continuing operations generated $645.7 million in net sales.
The Packaging group remains the primary engine of the new TriMas, contributing approximately 83% of the pro forma revenue and focusing on dispensing products for the beauty, personal care, and food and beverage markets.