News and Press

Jason Announces Acquisition of Morton Manufacturing

Purchase, Technological Enhancements Are Part of Aggressive Growth Strategy

October 17, 2011

MILWAUKEE (OCTOBER 17, 2011) – Jason Incorporated, parent company to a global family of manufacturing leaders in the seating, finishing, components and automotive acoustics markets, today announced its acquisition of Morton Manufacturing Company, a Libertyville, Illinois-based manufacturer of slip-resistant walking surfaces. Morton will function as a stand-alone organization under the Jason Components Group, joining Assembled Products (Buffalo Grove, Ill.), which creates custom engineered solutions for various industries; Jason Precision Components (Shanghai, China), which offers low-cost manufacturing and sourcing; and Metalex (Libertyville, Ill.), a leading manufacturer of expanded and perforated metals. The addition of Morton to the Components portfolio allows Jason to expand its capabilities in metal conversion, increase the number of end markets it serves, and create increased value for existing customers.

“Among the elements that piqued our interest in Morton are its track-record of high performance, coupled with its potential for future growth,” said David Cataldi, president of the Jason Components Group, as well as Janesville Acoustics, a Jason company. “Additionally, Morton’s mission of ‘customer first’ aligns perfectly with Jason’s corporate values. We’re confident that the combination of Morton, Assembled Products, Jason Precision Components and Metalex will result in an even stronger Jason Components Group.’”

Acquisitions are a key element of Jason’s aggressive corporate growth strategy. “We’re continuously on the search for successful businesses that complement our expertise and support our goal of being the leader in best-in-class customer solutions,” said David Westgate, chairman, CEO and president of Jason Incorporated. “Simultaneously, we’re focused on operational excellence and innovation to ensure the continuation of organic growth.” Jason experienced a 30 percent increase in sales in 2010. Also in 2010, Saw Mill Capital and Falcon Investment Advisors announced their commitment of more than $100 million in new and unfunded capital to finance add-on acquisitions for Jason.

Included in Jason’s growth initiative is an expansion of its technological capabilities. Metalex recently commissioned the build of a state-of-the-art perforating press intended to broaden the company’s capabilities to include the production of light- to intermediate-gauge perforated products. This investment will allow the company to begin servicing customers in markets like HVAC, industrial lighting, audio equipment, agriculture, architecture, and more.

The Morton ownership transition is expected to be seamless. As a Jason company, Morton will begin implementing the Jason Business System, a collaborative manufacturing strategy that places an emphasis on best-in-class performance, operational excellence, people – both customers and employees, and revenue growth. The System, which emphasizes innovation and continuous improvement, is key to the success of Jason companies. “Through the implementation of this system, we believe Morton will become even better positioned to meet customers’ evolving needs,” added Cataldi.

About Jason Incorporated:
Jason Incorporated 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.), Jason Precision Components (Shanghai, China), Metalex (Libertyville, Illl.), Milsco (Milwaukee, Wis.), Morton Manufacturing (Libertyville, Ill.), Osborn (Cleveland, Ohio 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, Wis., Jason employs more than 3,600 individuals in 13 countries. To learn more, visit www.jasoninc.com.