Market Overview

Jason Industries, Inc. Acquires Schaffner Manufacturing Company, Inc.


Jason Industries, Inc. (NASDAQ:JASN) (NASDAQ:JASNW) (the "Company" or
"Jason") today announced that it has acquired Schaffner Manufacturing
Company, Inc. ("Schaffner"), 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
approximately $20 million. It currently operates four manufacturing
facilities in Pennsylvania, Michigan, and Mississippi.

Through the acquisition of Schaffner, Jason will 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.

"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, chief executive officer of Jason.
"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."

The Company will discuss the transaction in further detail during the
first quarter 2019 earnings call on May 2, 2019.

About Jason Industries, Inc.

The Company is the parent company to a global family of manufacturing
leaders within the finishing, components, seating and automotive
acoustics markets, including Osborn (Richmond, Ind. and
Burgwald, Germany), Metalex (Libertyville, Ill.), Milsco (Milwaukee,
Wis.), and Janesville Acoustics (Southfield, Mich.). Headquartered
in Milwaukee, Wis., Jason employs more than 3,600 people in 13
countries. To learn more, please visit

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