JASPER, Ind. – John Weller of Weller Truck Parts and Zach Bawel, president of Jasper Engine and Transmission Exchange, announced that a letter of intent to purchase Weller Truck Parts has been signed by all parties.
Speaking for the Weller Family, John Weller stated, “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. We are pleased to announce we have found that fit with our associates/employees becoming partners with Jasper Engine and Transmission 100 percent associate-owned ESOP. That means all of our people will become owners in this new venture.”
He added that Weller will remain an independent company, as will Jasper. Both groups will work together to share best practices and make improvements for the betterment of both businesses.
Zach Bawel, president and COO of Jasper, commented, “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.”
Although the transaction is expected to close in the spring of 2014, both 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.
