TriMas Corp., a Michigan-based producer of engineered merchandise, has accomplished the sale of its Arrow Engine enterprise to IES Infrastructure Options LLC, a division of IES Holdings Inc. TriMas confirmed in a media launch that the sale marks the tip of its direct presence within the oil and gasoline market.
“Based in 1955, Arrow Engine was a legacy TriMas enterprise and a part of the TriMas portfolio for a number of many years”, Thomas Amato, TriMas President and Chief Government Officer, mentioned. “We’re happy to put this enterprise with IES Infrastructure Options, the appropriate companion to take Arrow Engine to the following stage. This transfer is one other vital step in optimizing TriMas’ enterprise portfolio”.
Arrow Engine provides pure gasoline engines generally utilized in distant functions, together with oil area pump jacks and compressors. These engines and substitute components are designed to be used in oil and pure gasoline manufacturing, in addition to different industrial sectors. Arrow Engine distributes its merchandise globally, with a major deal with the USA and Canada, in line with TriMas.
- Advertisement -
Arrow Engine manufactures its engine line and affords a wide selection of spare components for varied industrial engines, even these not produced by Arrow Engine, TriMas mentioned.
With estimated 2024 revenues of roughly $20 million, Arrow Engine will function inside IES’ Infrastructure Options section and retain its current model title, TriMas mentioned.
“We stay dedicated to making sure a easy transition to IES Infrastructure Options whereas persevering with to ship the very best stage of service to Arrow Engine’s prospects”, mentioned Amato.
TriMas chosen Holland & Knight as its exterior authorized counsel, whereas Woodward Park Companions acted as unique monetary advisor and led the sale course of.
The corporate added that because of the sale, the Specialty Merchandise enterprise will embrace solely Norris Cylinder’s monetary efficiency in 2025, with only one month of Arrow Engine’s outcomes because the sale closed on January 31, 2025.
To contact the writer, electronic mail andreson.n.paul@gmail.com
What do you assume? We’d love to listen to from you, be part of the dialog on the
Rigzone Vitality Community.
The Rigzone Vitality Community is a brand new social expertise created for you and all power professionals to Communicate Up about our trade, share information, join with friends and trade insiders and interact in knowledgeable neighborhood that can empower your profession in power.
