Editor's note: A previous version of this story misstated the number of facilities being acquired. The correct number appears below.
Motus Integrated Technologies, a supplier of door, console armrest and instrument panel trim components, agreed to acquire Janesville Fiber Solutions from Jason Industries Inc. for $85 million.
Janesville Fiber Solutions makes acoustical and thermal fiber insulation. The deal, which is subject to closing conditions, was disclosed in Jason Industries' second quarter earnings report Monday and is expected to close in the third quarter.
The Janesville division contributed about $144 million to Jason Industries' trailing 12-month sales ending June 28, the report said. The division's operations in the U.S. and Mexico, which have 1,000 employees and eight facilities, will become a subsidiary of Motus.
"With this acquisition, Motus' portfolio of innovative interior offerings and advanced manufacturing facilities continues to expand and benefit our customers around the world," Motus CEO Shannon White said in a release Monday. "Both Motus and Janesville are recognized industry leaders in compression forming. Janesville's expertise in materials, strong customer relationships and complementary footprint will enable us to offer our customers more innovative, lightweight product solutions that meet increasing demands for interior quality and design innovation."
Jason CEO Brian Kobylinski said the divestiture would reduce Jason Industries' exposure to the automotive market, simplify the company's portfolio and increase liquidity.
"Janesville can achieve its true potential under new ownership. Our employees have done an outstanding job improving operational and commercial performance and we thank them for their hard work and dedication to the business," Kobylinski said in a statement.
Jason Industries, headquartered in Milwaukee, declined to comment further on the acquisition.
Motus did not immediately respond to requests for comment.