Jasper Holdings Inc. has acquired rotational molder Jer-Den Plastics Inc. for an undisclosed price.
Jasper, Ind.-based Jasper owns several manufacturing firms including Jasper Engines & Transmissions, Weller Truck and Jasper Electric Motors. The company is employee owned through an employee stock ownership plan.
St. Louis, Mich.-based Jer-Den has more than 30 years of plastics processing experience, making rotomolded products for the construction, commercial, industrial, material handling, marine, toy and recreational vehicle industries.
Jer-Den also offers secondary in-house services, including routing, flame treating, foam filling, spin welding, and hardware installation.
In a news release, Jasper President Zach Bawel said that his firm "continues to pursue diversification through acquiring strategic industry leaders to join our 100 percent associate-owned ESOP."
Jer-Den "will be used in expanding the Jasper Holdings footprint outside the automotive and trucking aftermarket," he added. Officials also said that Jer-Den's central location in the Midwest allows the firm to provide "the fastest, most efficient product delivery and distribution throughout the country."
Jer-Den President Jeff Stahl will continue to lead the business. In the release, he said that Jasper's ESOP "is a testament to their focus and appreciation for those they work with at every level…We feel confident that Jer-Den Plastics will be in good hands with Jasper Holdings and look forward to growing the business under their leadership."
Jer-Den ranked 46th in the most recent Plastics News ranking of North American rotational molders with annual sales of $12 million.