US-based TriMas has acquired the remaining 30% stake in Arminak & Associates for cash and an earn-out based on the future success of the business.
Arminak will continue to operate as part of the company’s packaging segment. In February 2012, TriMas had acquired a 70% share of the business.
TriMas president and CEO Dave Wathen said the synergies from the initial acquisition enabled the company to compliment its packaging growth strategies for the future.
"Due to the success achieved during the first two years, we are pleased to acquire the remaining interest of Arminak," Wathen added.
Arminak is involved in the design, manufacture and supply of foamers, lotion pumps, fine mist sprayers and other packaging solutions for the cosmetic, personal care, beauty aids and household product markets.