TriMas (NASDAQ: TRS) announced today that it has completed its acquisition of medical device components maker Omega Plastics.
The financial terms of the deal were not disclosed. Omega (Clinton Township, Michigan) expects to bring in $18 million in revenue in fiscal year 2021.
Omega Plastics boasts core injection molding capabilities, an ISO Class 8 clean room and in-house tool making. Its components presently go into devices for drug delivery, including consumable intravenous applications and diagnostic testing and orthopedic applications.
TriMas (Bloomfield Hills, Michigan) plans to expand Omega’s production capacity and use its advanced tool-making capabilities to add to TriMas Packaging’s capabilities.
“We welcome Omega to TriMas’ family of businesses and look forward to working with the Omega leadership team to unleash future growth opportunities,” TriMas CEO Thomas Amato said in a news release.
The deal expands TriMas Packaging’s Pharmaceutical & Nutraceutical product offerings to encompass the medical device contract manufacturing space.