TriMas Finalizes Sale of Arrow Engine Business
TriMas Corporation has successfully completed the sale of its Arrow Engine business, marking a strategic exit from the oil and gas market sector. The sale, which was finalized on January 31, 2025, was concluded with IES Infrastructure Solutions LLC, a division of IES Holdings. IES Infrastructure Solutions is known for its expertise in providing electrical and mechanical apparatus services, custom steel fabrication, and engineered solutions. These services include generator enclosures, bus systems, and a variety of custom-engineered solutions to customers both domestically and internationally.
Arrow Engine, a legacy business of TriMas founded in 1955, had been part of the TriMas portfolio for many decades. Thomas Amato, President and CEO of TriMas, commented on the strategic move: “We are pleased to place this business with IES Infrastructure Solutions, a partner that is well-positioned to take Arrow Engine to the next level. This sale represents another key step in optimizing TriMas’ business portfolio, allowing us to focus on our core operations.”
Arrow Engine specializes in natural gas-powered engines, primarily used in remote applications such as oil field pump jacks, compressors, and replacement parts for industrial engines in the oil and gas sector. The company manufactures its own engine line while also providing a broad range of spare parts for engines produced by other manufacturers. Arrow Engine has developed a strong distribution network, primarily in the United States and Canada, which will continue to support its operations post-sale. With an estimated revenue of approximately $20 million in 2024, Arrow Engine will now become part of the Infrastructure Solutions segment of IES Holdings, continuing to operate under the Arrow name.
IES Infrastructure Solutions has built a solid reputation in the industry, providing engineered solutions and fabrication services that serve a variety of sectors, including energy and infrastructure. The acquisition of Arrow Engine will strengthen its position in the oil and gas market and provide additional opportunities for growth, particularly in remote and industrial applications where Arrow Engine’s products have been proven to perform.
“We would like to extend our gratitude to the Arrow Engine management team for their years of service to TriMas and for their leadership throughout the sale process,” said Amato. “As we transition the business to IES Infrastructure Solutions, we remain committed to supporting the continued high level of service that Arrow Engine’s customers have come to expect.”
Woodward Park Partners, a prominent financial advisory firm, served as the exclusive financial advisor for TriMas throughout the sale process. The firm led the transaction and provided expert guidance on the deal’s execution. Additionally, Holland & Knight, a well-known law firm, acted as outside legal counsel for TriMas, ensuring that the sale was conducted in compliance with all applicable legal and regulatory requirements.
The completion of the sale is a significant milestone in TriMas’ ongoing efforts to streamline its portfolio and focus on its higher-growth businesses. As part of this transaction, TriMas will adjust its segment reporting for Specialty Products to include only Norris Cylinder’s financial performance, alongside one month of Arrow Engine’s results, which will reflect the period before the sale.
For IES Infrastructure Solutions, the acquisition represents a strategic expansion of its capabilities and market reach. With the addition of Arrow Engine, IES will further diversify its product offerings and enhance its service portfolio, particularly in the areas of natural gas-powered engines and industrial equipment. The move aligns with IES Holdings’ broader strategy of investing in high-quality, specialized companies that complement and enhance its existing businesses.
The transition to IES Infrastructure Solutions is expected to be smooth, as both parties are committed to ensuring continuity of service for Arrow Engine’s customers and stakeholders. While Arrow Engine will operate under its established name, the resources and capabilities of IES will help propel the business forward into new growth opportunities, especially in the growing demand for custom-engineered solutions in remote and industrial applications.
As TriMas moves forward, the company will continue to concentrate on its core operations, focusing on growth areas with strong potential for innovation and profitability. The sale of Arrow Engine is a reflection of TriMas’ broader strategy to refine and optimize its portfolio in line with its long-term goals. This transaction also underscores TriMas’ commitment to enhancing shareholder value by exiting non-core businesses and investing in higher-potential opportunities.
The sale is expected to have a positive impact on TriMas’ financial position in the coming quarters, with the company redirecting its resources toward its higher-growth business segments. TriMas will continue to build on its strong track record of operational excellence and customer satisfaction while enhancing its portfolio to better serve evolving market needs.
In conclusion, the sale of Arrow Engine to IES Infrastructure Solutions is a pivotal step in TriMas’ ongoing efforts to refine its business strategy. With a clear focus on enhancing shareholder value and positioning the company for future growth, TriMas looks forward to the opportunities that lie ahead. The transition of Arrow Engine to its new owner ensures that the legacy business will continue to thrive under the leadership of IES, while TriMas continues to optimize its portfolio and invest in its most promising business segments.
