MILWAUKEE — Jason Industries,
Inc. announced Monday it 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.
Founded more than 70 years ago, Schaffner develops products for
specialized applications including flap wheels, buffing wheels, and
buffing compounds, serving a range of industries with annual sales
of about $20 million. It operates four manufacturing facilities in
Pennsylvania, Michigan, and Mississippi.
Through the acquisition, Jason will expand its polishing product
line 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, Jason CEO, in a
statement. “We expect this combination to drive value for our
customers, employees and shareholders as we execute our integration