TriMas has acquired Taplast S.p.A., the second Italian acquisition in the past six months for the Bloomfield Hills-based company as it seeks to accelerate the growth of its packaging platform. Terms of the deal were not disclosed.
Privately owned Taplast designs and manufactures dispensers, closures and containers for the beauty and personal care, household and food packaging end markets, serving customers predominantly in Europe and the Americas. The company has full manufacturing and tooling capabilities, including injection molding for dispensers and closures, injection blow molding for containers, and assembly.
“Taplast has a strong brand name and comes with a wide range of complementary packaging end market products, including dispensers, foamers, single and multi-body caps, child resistant caps, jars and specialty coffee dispensing pods,” TriMas CEO Thomas Amato said in a statement.
In November, TriMas acquired Plastic Srl, an Italian manufacturer of polymeric caps and closures for home care product applications.
Taplast has manufacturing operations in Povolaro, Italy, and Levice, Slovakia, commercial locations in the U.K, U.S. and France, and additional commercial representatives in Asia and South America. The company reported revenue of approximately $32 million in 2018. The transaction closed April 29 and Taplast will be a wholly owned division of TriMas’ Rieke business and will be reported in the company’s packaging segment.
Prior to the sale, Taplast was co-owned by Paolo Santagiuliana, son of the founder Evans Santagiuliana, and Alkemia Capital Partners of Milan, Italy. TriMas and Taplast, which were represented by the Milan-based investment banking firm Alantra), worked exclusively to negotiate the terms of the transaction.