Jasper Engines to purchase truck parts companyNovember 4, 2013
From local sources
John Weller of Weller Truck Parts, and Zach Bawel, president of Jasper Engines & Transmissions, have announced that a letter of intent for Jasper Engines to purchase Michigan-based Weller Truck Parts has been signed by all parties.
Weller will remain an independent company with its products as will Jasper Engines. Both groups will work together to share best practices and make improvements for the betterment of all, John Weller said in a news release.
Weller Truck Parts started in 1973 as a growth of Weller Auto Parts started by Harry Weller Sr. and his son, Junior, in 1930. Junior’s four sons — John, Skip, Chris and Paul — bought the business in 1985 and began focusing on remanufacturing.
In 2000, John and Paul increased the focus with a state-of-the-art remanufacturing facility. Today Weller has 800 associates and 29 production and distribution facilities, remanufacturing a full line of heavy duty transmissions and differentials.
“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,” John Weller said. “We are pleased to announce we have found that fit with our associates/employees becoming partners” with Jasper Engines & Transmissions, which has a 100 percent associate-owned employee stock ownership plan. “That means all of our people will become owners in this new venture,” John Weller said.
“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,” Bawel said. “Paul and John will be staying on in their current leadership roles and we look forward to growing both Weller and Jasper.”
The transaction is expected to close in the spring of next year, and in the meantime Weller and Jasper will begin working more closely together.
Weller Auto is not part of this transaction and will continue to be owned by the Weller family.
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