Jason Industries, Inc. recently announced that it acquired Schaffner Manufacturing Company, Inc., a Pittsburgh-based manufacturer of polishing and finishing products.
Shaffner develops products for specialized applications including flap wheels, buffing wheels, and buffing compounds, serving a range of industries. Founded more than 70 years ago, Schaffner operates four manufacturing facilities in Pennsylvania, Michigan, and Mississippi and has annual sales of approximately $20 million.
Jason acquired Schaffner in an all cash transaction valued at $11 million. The acquisition will enable Jason to expand its polishing product line offerings within North America. Jason will integrate the business into its industrial segment within Osborn, which provides solutions for surface preparation and finishing, cleaning, and containment and material and structural positioning.
“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. “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.”