Jasper, Ind.-based Jasper Engine and Transmission Exchange will purchase Grand Rapids, Mich.-based Weller Truck Parts.
The transaction is expected to close in spring 2014, according to a press release from both companies.
“(Weller) Brothers Skip, Chis, Paul and I take very seriously our commitment to our Weller team,” said John Weller of Weller Truck Parts. “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.”
Weller Truck Parts and Jasper Engine and Transmission will remain independent companies; both groups will work together to share best practices and make improvements, the release noted.
“Weller is a very respected brand with a great team,” said Zach Bawel, president and chief operating officer of Jasper.” We are excited about the growth opportunities for both companies and are anxious to welcome the Weller Team into our ESOP (employee stock ownership plan). Paul and John will be staying on in their current leadership roles and we look forward to growing both Weller and Jasper.”
Weller Auto is not part of this transaction and will continue to be owned by the Weller family.