MILWAUKEE--(BUSINESS WIRE)--Jason Industries, Inc. (OTCQX: JASN) (the "Company" or "Jason Industries") today announced that it has acquired the Matchless Metal Polish Company (“Matchless”) in an all cash transaction valued at $5 million.
The Matchless Metal Polish Company, founded in 1885, provides a full line of metal finishing products and services including buffing compounds, buffing wheels, abrasives and chemicals with annual sales of approximately $8 million. With its 135 history, Matchless is recognized by both customers and competitors alike for quality and dependability.
Through the acquisition of Matchless, Jason will further 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.
“Matchless reinforces our strategy to execute core tuck-in acquisitions that possess multiple facets of synergy,” commented Brian Kobylinski, Chairman and CEO. “Combining both Matchless and our recent Schaffner acquisition into our Industrial segment creates the widest range of technical polishing solutions available and firmly establishes Osborn’s leading position in the market.”
The expanded business serves customers globally, offering access to more new product ideas and techniques, and remains committed to building rewarding customer relationships. Founded in 1887, Osborn employs a collaborative manufacturing strategy that emphasizes best-in-class performance, innovation, continual improvement and ethics.
The Company will discuss the transaction in further detail during the fourth quarter 2019 earnings call on March 3, 2020.
About Jason Industries, Inc.
The Company is the parent company to a global family of manufacturing leaders within the finishing and seating markets, including Osborn (Richmond, Ind. and Burgwald, Germany) and Milsco (Milwaukee, Wis.). Headquartered in Milwaukee, Wis., Jason employs more than 1,900 people in 13 countries. To learn more, please visit www.jasoninc.com.