Jason Industries Acquires Herold Partco Assets

Released : 03/25/15

MILWAUKEE, March 25, 2015 (GLOBE NEWSWIRE) -- Jason Industries, Inc. (Nasdaq:JASN) (Nasdaq:JASNW), parent company to a global family of manufacturing leaders in the seating, finishing, automotive acoustics and components markets, today announces it has completed a transaction to acquire the manufacturing assets and customer list of Herold Partco Manufacturing, Inc., a Cleveland-based manufacturer of industrial brushes.

Upon completion of the transaction, the financial terms of which are not being disclosed, Herold Partco products will be manufactured and distributed by Jason Finishing Group, a Jason business unit and the leading global producer of technical and maintenance brushes, polishing buffs and compounds. The Jason Finishing Group portfolio includes well-recognized brands, such as Osborn (www.osborn.com), JacksonLea (www.jacksonlea.com), Lippert-Unipol and Sealeze (www.sealeze.com). Herold Partco products will be sold under the Osborn brand name.

"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."

"A key element of Jason's growth strategy is the acquisition of companies or assets that fit well within our existing businesses and offer products that complement our existing lineup," said David Westgate, chief executive officer at Jason. "Herold Partco is an excellent example of that strategy at work. We're excited to incorporate the company's quality line of products into that offered by Jason Finishing Group."

By late March, Herold Partco manufacturing equipment will be relocated to Jason Finishing Group's Richmond, Indiana plant, where production will be resumed. The company has committed to a seamless transition to ensure that Herold Partco customers continue to receive products of the same quality and specifications with which they are accustomed.

About Jason Industries, Inc.:

Jason Industries is parent company to a global family of manufacturing leaders within the seating, finishing, components and automotive acoustics markets, including Assembled Products (Buffalo Grove, Ill.), Janesville Acoustics (Southfield, Mich.), Metalex (Libertyville, Illl.), Milsco (Milwaukee, Wis.), Osborn (Richmond, Ind. and Burgwald, Germany), and Sealeze (Richmond, Va.). All Jason companies utilize the Jason Business System, a collaborative manufacturing strategy applicable to a diverse group of companies that includes business principles and processes to ensure best-in-class results and collective strength.

Headquartered in Milwaukee, Jason employs more than 4,400 individuals in 14 countries. Shares in the company's stock are traded on NASDAQ, ticker symbol: JASN. To learn more, visit www.jasoninc.com.

About Jason Finishing Group:

A business unit of Jason, Jason Finishing Group holds the world's leading brands in surface treatment and high-quality finishing, including Osborn (www.osborn.com), JacksonLea (www.jacksonlea.com), Lippert-Unipol and Sealeze (www.sealeze.com). Headquartered in Burgwald, Germany and Richmond, Indiana, the company has a presence in more than 14 countries and serves customers in more than 120 countries.

Jason Finishing Group's premier brand, Osborn, was founded in 1887 and carries more than 10,000 standard products and more than 100,000 customized solutions to serve a diverse group of customers and industries.

CONTACT: Stacey Stark
         414.248.3626
         sstark@jasoninc.com

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Source: Jason Industries Inc.