Woodward Park Partners is pleased to announce that Rapak, LLC, a subsidiary of TriMas Corporation (NASDAQ: TRS), was acquired by Ringmetall SE (ISIN: DE000A3E5E55). Rapak, headquartered in Woodridge, Illinois with operations in Indianapolis, Indiana, is a producer of bag-in-box packaging and filling systems for liquid food, beverage and industrial applications. With the acquisition, Ringmetall enters the North American bag-in-box market and becomes the fourth largest bag-in-box manufacturer worldwide.
Thomas Snyder, President and CEO of TriMas, said, "The transaction represents another important step in streamlining our portfolio and increasing our focus on businesses and end markets where we believe we have the greatest opportunity to drive profitable growth and attractive returns. We are also pleased to have found a strong strategic owner for Rapak, and one that is well-positioned to support the business' continued growth and success going forward."
