Jasper Engine and Transmission Exchanged has confirmed its intent to purchase Weller Truck Parts. The transaction is expected to close in the spring of 2014.
“Brothers – Skip, Chris, Paul and I take very seriously our commitment to our Weller Team. We are very proud of what they have built and we want to make sure we have a good plan for the future of our Weller Team and the Weller Brand,” said John Weller. “We are pleased to announce we have found that fit with our associates and employees becoming partners with Jasper Engine and Transmission –a 100 percent associate owned ESOP. That means all of our people will become owners in this new venture.”
Zach Bawel, president and COO of Jasper added: “Weller is a very respected brand with a great team. We are excited about the growth opportunities for both companies and are anxious to welcome the Weller Team into our ESOP. Paul and John will be staying on in their current leadership roles and we look forward to growing both Weller and Jasper.”
Weller concluded: “Weller will remain an independent company with their products as will Jasper. Both groups will work together to share best practices and make improvements for the betterment of all.”
Both Weller and Jasper will begin working more closely together before the spring closing. Weller Auto is not part of this transaction and will continue to be owned by the Weller family.