Jason eyes retiring debt with proceeds of $85 million sale of segment

By Wendy Van Sickle

Columbus, Ohio, Aug. 30 – Jason Inc. plans to retire debt or reinvest in its remaining businesses with proceeds of the sale of its Fiber Solutions segment to Motus Integrated Technologies for about $85 million, according to a news release.

Up to $5 million of the sale price is contingent on achievement of some performance conditions during 2019.

Last November, Jason withdrew $383 million of planned term loans from the market, citing market conditions. That debt had been earmarked to amend and extend by three years existing first- and second-lien term loans.

Jason is a Milwaukee-based diversified manufacturer of best in class finishing, components, seating and acoustic products and solutions to industrial, energy, heavy fabrication, off-highway equipment and transportation markets.

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