TriMas Completes Strategic Exit from Oil and Gas with Arrow Engine Sale

TriMas Completes Strategic Exit from Oil and Gas with Arrow Engine Sale

TriMas Corporation, based in Bloomfield Hills, Michigan, successfully concludes its exit from the oil and gas sector by selling its Arrow Engine business to IES Infrastructure Solutions LLC, part of IES Holdings, Inc. The transaction, finalized on January 31, 2025, allows TriMas to refocus its business strategy while ensuring continuity for Arrow Engine’s clientele. Founded in 1955, Arrow Engine has specialized in natural gas-powered engines tailored for remote applications, notably in oil field pump jacks and compressors, achieving an estimated revenue of approximately $20 million for 2024.

In a statement regarding the sale, TriMas CEO Thomas Amato emphasizes the strategic significance of this decision. He identifies IES as the ideal partner to enhance Arrow Engine's capabilities and performance, thereby optimizing TriMas' overall portfolio. The sale reflects a broader trend within the company to streamline operations and concentrate on sectors where it can deliver innovative solutions and robust growth. The transition is managed with a clear focus on maintaining service quality for Arrow Engine’s existing customers, ensuring that the management team's efforts during the sale effectively support ongoing operations.

As part of this strategic shift, TriMas’ segment reporting for Specialty Products in 2025 will now only reflect the performance of the Norris Cylinder business and a month of Arrow Engine’s results. This move not only signifies a reduction in TriMas' exposure to the volatile oil and gas market but also reinforces the company's commitment to its diverse product offerings across consumer, aerospace, and industrial markets. With approximately 3,400 employees spanning 13 countries, TriMas is poised to continue delivering innovative solutions under its established brand names.

In addition to the sale, financial advisory services for the transaction were provided by Woodward Park Partners, while Holland & Knight served as legal counsel for TriMas. This transaction marks a significant milestone in TriMas' strategic evolution, reinforcing its focus on industries that align with its long-term vision and operational strengths.