BLOOMFIELD HILLS, Mich. — TriMas Corporation, a manufacturer of engineered and applied products, today announced that it has acquired Lion Holdings Pvt. Ltd. for $27 million, paid in cash at closing. The transaction closed July 25, at which time Lion Holdings became part of the Company’s Packaging segment.
“We are pleased to add Lion Holdings to our portfolio of Packaging companies,” said Dave Wathen, president and chief executive officer of TriMas Corporation. “This acquisition complements our growth strategies to follow our packaging customers into high growth regions of the world.”
Lion Holdings, headquartered in Greater Noida, India, specializes in the manufacture of highly engineered dispensing solutions. From its three locations in India and Vietnam, Lion Holdings generated approximately $10 million in revenue for the 12 months ended June 30, 2014.
“This acquisition clearly broadens our Asian market coverage and extends our geographic reach, while also providing significant customer and product synergies,” said Lynn Brooks, president of TriMas’ Packaging segment. “Lion Holdings will also provide us additional capacity to support our ongoing growth initiatives in Asia, while continuing to create a responsive, global supply chain.”
SOURCE: TriMas press release