Jasper Holdings Inc., the parent company of Jasper Engines and Transmissions, has acquired Diesel USA Group Inc. headquartered in Louisville, Ky.
The Diesel USA Group will remain a separate company and brand as it becomes part of the Jasper ESOP. From its locations in Louisville; Cincinnati, Ohio; Columbus, Ohio; Indianapolis, Ind.; Fort Wayne, Ind.; Crown Point, Ind.; and Fontana, Calif.; Diesel USA Group is a distribution, service and repair company servicing air and fuel products for gas and diesel engines along with a variety of other complementary products.
The transaction was completed on May 31, acquiring the company from the Bailey family which has owned the company since its inception in 1950 by Lloyd Bailey. The current leadership team at Diesel USA Group will continue to lead and operate the company. Diesel USA Group and Jasper will operate independently of each other as they work together as part of Jasper Holdings Inc.
Jasper has been in the air and fuel business as part of their diesel remanufacturing process since the late 1960s. Over the last several years, Jasper has focused more on this product line and recognizes opportunities with the increased use of turbochargers on passenger cars, light trucks and SUVs.
"Diesel USA Group is a respected brand with a great team. We are excited about the growth opportunities for the products and services they offer and feel they will be a great addition to the Jasper ESOP," said Zach Bawel, Jasper president. "With this acquisition, it enables us to continue to diversify our family of companies while remaining committed to an industry we understand."
"The business relationship between Jasper and Diesel USA Group dates back to the 1960s. We have always admired their disciplined approach to business and the very nature of their products. It is an honor to be a part of the process of blending our companies as we set our sights upon growth for our valued suppliers and our fellow associate owners," said Jay Miller, president of the Diesel USA Group.
The company noted the Diesel USA Group of companies was founded in 1950 by Bailey, a D-Day veteran of the landing on Omaha Beach in Normandy, France, in 1944. As the post-war era in America led to great prosperity, the role of the diesel engine became increasingly important. The Diesel USA Group of companies played a significant part of the nation's diesel service industry and its infrastructure by specializing in the repair and remanufacturing of complicated fuel injection and turbocharger assemblies commonly found on all diesel engines. The business then grew into distributing new OEM air and fuel products for several manufacturers.
This acquisition further diversifies the brands of Jasper Holdings. Jasper Engines and Transmissions is a remanufacturer of drivetrain components with five manufacturing locations, two distribution centers, and 47 nationwide branch locations. In 2014, Jasper acquired Weller Truck Parts headquartered in Grand Rapids, Mich., increasing the number of present-day associate owners to nearly 3,400 among the companies.