Jason Industries Inc. has acquired Schaffner Manufacturing Co. Inc., in an all-cash transaction valued at $11 million. The deal will expand Jason's polishing product line offerings within North America.
Pittsburgh-based Schaffner manufacturers high-quality polishing and finishing products for specialized applications including flap wheels, buffing wheels and buffing compounds, serving a range of industries. With annual sales of approximately $20 million, it currently operates four manufacturing facilities in Pennsylvania, Michigan and Mississippi.
The business will be integrated into Jason’s industrial segment within Osborn, a global leader in metal preparation, polishing, and finishing 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,” Jason CEO Brian Kobylinski said in a statement. “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.”