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Jason Industries Inc., Milwaukee, Wisconsin, (Nasdaq:JASN) (Nasdaq:JASNW), parent company to a global family of manufacturers in the seating, finishing, automotive acoustics and components markets, has acquired Schaffner Manufacturing Company, Inc., a North American manufacturer of high-quality polishing and finishing products, in an all cash transaction valued at $11 million.
Through the acquisition of Schaffner, Jason will expand its polishing product line offerings within North America. The business will be integrated into Jason’s Industrial segment within Osborn, a leading global provider of solutions for surface preparation and finishing, cleaning and containment, and material and structural positioning, with product lines including brushes, polishing buffs and compounds, abrasives and roller technology.
“The acquisition of Schaffner is consistent with our strategy to grow our Industrial business and provides a natural extension of the Company’s current product offerings, enhancing the opportunity to serve our customers,” said Brian Kobylinski, chief executive officer of Jason. “Schaffner has a long history as a market leader and is a strong strategic fit with Osborn. We expect this combination to drive value for our customers, employees and shareholders as we execute our integration plan. We are pleased to welcome the Schaffner employees to Jason.”