WOODWARD PARK PARTNERS ADVISES TRIMAS IN ITS SALE OF RAPAK TO RINGMETALL

(NASDAQ:TRS) TriMas Corporation announced that its subsidiary, Rapak, LLC, has been 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 this acquisition, Ringmetall SE 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, stated that the transaction is an important step in streamlining TriMas' portfolio and increasing focus on businesses and end markets with the greatest opportunity for profitable growth and attractive returns. Snyder also expressed satisfaction in finding a strong strategic owner for Rapak, who is well-positioned to support Rapak's continued growth and success. Rapak was acquired by TriMas in 2020 and has operated as part of the TriMas Packaging group. TriMas designs, manufactures, and supplies a broad range of innovative and high-quality products for the consumer packaging, life sciences, and industrial markets through its TriMas Packaging and Specialty Products groups. TriMas has approximately 2,500 employees in 12 countries. Ringmetall SE is a leading international specialist supplier of industrial packaging, producing highly secure closure systems and inner liners for industrial drums in the chemical, pharmaceutical, and food processing industries, and also offers packaging solutions for the beverage industry. Ringmetall SE is headquartered in Munich, Germany, and has production and sales locations across Europe, as well as in China, the USA, and South Africa. Woodward Park Partners acted as the investment banking advisor for the transaction.