TriMas Sets IPO Terms

TriMas Corp., a Bloomfield Hills, Mich.-based manufacturer of engineered products, set its proposed IPO terms to 11 million common shares being offered at between $11 And $13 per share. It plans to trade on the NYSE under ticker symbol TRS, with Goldman Sachs and Merrill Lynch serving 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 current shareholder structure includes Heartland with a 72.7% pre-IPO stake, Masco Corp. with 11.82% and Credit Suisse with 5.71 percent.