Jason Industries Inc., Milwaukee, WI, (Nasdaq:JASN) (Nasdaq:JASNW), parent company to a global family of manufacturers in the seating, finishing, automotive acoustics and components markets, agreed to acquire the manufacturing assets and customer list of Cleveland-based Herold Partco Manufacturing Inc., a manufacturer of industrial brushes. Terms were not disclosed.
Herold Partco products will be manufactured and distributed by Jason Finishing Group, a Jason business unit. By late March, Herold Partco manufacturing equipment will be relocated to Jason Finishing Group's plant in Richmond, IN, where production will be resumed.
"As part of our dedication to providing customers with best-in-class solutions, we are continuously looking for opportunities to expand our product offering," said Dr. Florestan von Boxberg, president of Jason Finishing Group. "In acquiring the manufacturing assets of Herold Partco, we broaden our catalog in the area of power brushes, thereby creating increased value for our current customers and those of Herold Partco, while further solidifying our market-leading position."