TriMas Corp has acquired Highland Group Industries Inc — a supplier of cargo management products and vehicle protection products — for about $70.5 million on a debt-free basis.
On Jan 28, 2003, TriMas announced that it had acquired Wausau WI-based HammerBlow Towing Systems Corp, a manufacturer of towing, trailer and other vehicle accessories, for approximately $142 million on a debt-free basis.
Solon OH-based Highland Group, founded in 1945, specializes in products that help safely load, anchor, secure, tow, carry, and organize cargo, as well as protect the vehicle and its cargo area. With 2002 revenues of roughly $50 million, Highland Group will be integrated into TriMas' Cequent operating group. This acquisition expands Cequent's product line to include cargo management and vehicle protection.