SSA in the News



TriMas ACQUIRES Martinic Engineering  


TriMas Corporation (NASDAQ: TRS) -- a diversified global manufacturer of engineered and applied products -- announced that it has acquired Martinic Engineering, Inc. for approximately $19 million. 

    The purchase price is subject to a net working capital adjustment as of the closing date. The transaction closed on January 28, 2013, at which time Martinic Engineering became part of TriMas Corporation's Aerospace and Defense segment.  

    Solomons Strategic Advisors acted for Martinic in the transaction.

    Founded by Tonci Martinic in 1978, Martinic Engineering, located in Stanton, California, manufactures highly-engineered, precision machined, complex parts for commercial and military aerospace applications, including auxiliary power units, as well as electrical, hydraulic and pneumatic systems. Martinic Engineering generated approximately $13 million in revenue for the 12 months ended December 31, 2012. Mr. Martinic will remain with the company as its general manager.

    "This is the type of business we look for when adding to our portfolio -- a business with products that are highly-engineered, and difficult to manufacture," said Dave Wathen, president and chief executive officer of TriMas Corporation. "This acquisition complements our growth strategies for our Aerospace and Defense segment by providing additional OE and aftermarket opportunities."

"Martinic Engineering will enhance our customer base in the aerospace and defense industry," said David Adler, president of Monogram Aerospace Fasteners.

    "This acquisition gives us the opportunity to offer a broader product portfolio and provides a platform for further growth with current and new customers.


POLARIS ACQUIRES PRO ARMOR                                               

Adding Pro Armor strengthens Polaris’ aftermarket offerings for performance side-by-side and ATV markets 

MINNEAPOLIS, MN (November 12, 2014) — Polaris Industries Inc. (NYSE: PII) today announced the acquisition of certain assets of LSI Products Inc. and Armor Holdings, LLC, privately-held Riverside, Calif.-based companies that design, develop, manufacture, source, sell and distribute accessories for performance side-by-side vehicles and ATV markets under the Pro Armor brand. This acquisition adds Pro Armor to Polaris’ growing parts, garments and accessories (PG&A) business. The terms of the transaction were not disclosed.

Solomons Strategic Advisors acted for LSI Products and Armor Holdings (ProArmor) in the transaction.

"The acquisition of Pro Armor adds another industry-leading brand to our growing stable of PG&A aftermarket brands, a key contributor to Polaris’ growth and profitability," said Steve Eastman, Polaris’ vice president of PG&A. "Pro Armor is a leading brand in performance side-by-side accessories with a relentless commitment to innovation, style, performance and quality. The addition of Pro Armor to Polaris’ aftermarket brand portfolio allows us to extend our channel and customer reach in the performance side-by-side and ATV markets. Our common culture and shared passion for the Powersports industry and consumer will create an exciting platform for continued innovation and accelerated growth."

Pro Armor will continue to operate as a distinct brand and the operations will remain in Riverside. Both Polaris and Pro Armor will continue to develop independent product plans while leveraging development, sourcing and distribution capabilities.

"Both Pro Armor and Polaris are driven by a high degree of passion and determination to develop the best customer-focused product solutions in the industry," said Alex Danze, President and CEO, Pro Armor. "Pro Armor’s success is built on an intimate understanding of the rider and we look forward to becoming a part of the Polaris family where we can take our market leadership and customer relationships to the next level."


© 2016 Solomons Strategic Advisors