Costa Mesa, Calif. – March 20, 2007 – Megadyne has acquired Jason Industrial Group, a privately held manufacturer and distributor of industrial belts, hoses and couplings. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction and acted as the exclusive advisor to the Jason Industrial Group.
"We are excited at the idea of working closer together with the Megadyne organization. We will benefit from the additions to our product range and from Megadyne's expertise in the manufacturing arena together with their engineering capabilities,” said Philip Cohenca, president and CEO of Jason Industrial.
"This is a critical point in the history of our company," added Giorgio Tadolini, president and CEO, Megadyne. "Joining forces with Jason will allow our sales companies located all around the globe, to take advantage of our partner's recognized leadership in the distribution of industrial products. This, together with Jason's wide product line, will soon translate into improved service to our customers worldwide."
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. John Dorey, senior managing director, and David Burke, vice president, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm’s international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Jason Industrial Group
Jason Industrial Group is a leading international distributor and manufacturer of industrial products such as power transmission belts, pulleys, industrial hoses and couplings. It consists of five separate distribution companies and one manufacturing company, which are located in the United States, Canada, Mexico, and Brazil. The company manufactures approximately 25 percent of its products through TBMC, a wholly owned subsidiary; other domestic and overseas suppliers produce the remaining 75 percent. All products sold by Jason Industrial Group are marketed under the Jason brand name or other proprietary brand names controlled by the company. Its core customers are divided into two main groups, distributors and original equipment manufacturers.
About Megadyne
Megadyne is a leading worldwide manufacturer of polyurethane transmission belts. Megadyne is one of only a few worldwide companies able to supply the complete range of belts to OEMs for industrial applications. Megadyne products are used in all industrial-drive applications, including power transmission, synchronization, conveying, linear positioning and domestic appliances. Manufacturing plants are located in Italy, France, Germany, Spain and Pineville, N.C.