St. Louis firm to acquire Jason Inc.

Special to The Freeman

March 17, 2014

MILWAUKEE – Jason Inc. is being acquired by St. Louis-based Quinpario Acquisition Corp. for $539 million, the company announced Monday.

Jason, a Milwaukee-based firm that is a privately held group of manufacturing companies, will become a publicly traded company after the acquisition. Quinpario Acquisition specializes in acquisitions.

The $538.65 million purchase price will be funded by the proceeds from Quinpario’s initial public offering, new debt and rollover equity invested by the current owners and management of Jason. The acquisition is expected to be finished in the second quarter of 2014, pending regulatory approval.

CEO David Westgate will continue to lead the company. Westage is also expected to serve as a member of the board of directors.