TriMas Prices IPO

TriMas Corp., a Bloomfield Hills, Mich.-based manufacturer of engineered products, priced 11 million common shares at $11 per share ($11-$13 range), for an IPO take of approximately $121 million. It will trade on the NYSE under ticker symbol TRS, while Goldman Sachs and Merrill Lynch served as co-lead underwriters. TriMas operated as an independent company beginning in 1987, but was acquired in 1998 by Metaldyne Corp. (then known as MascoTech Inc.). In November 2000, Matladyne was acquired by an investor group led by Heartland Industrial Partners, which later spun the company out on its own. The pre-IPO shareholder structure included Heartland with a 72.7% stake, Masco Corp. with 11.82% and Credit Suisse with 5.71 percent.