CLEVELAND – Jergens Inc., a leading manufacturer of standard tooling components, fasteners, hoist rings, vises and other work holding equipment, on Monday announced that the sale of subsidiary JIS Distribution LLC to diversified holding company PT Solutions is formally complete.
“Today’s announcement is a bittersweet one, but marks an exciting turning point in the story of our family business,” said Jack Schron, president of Jergens Inc. “As we look to the future of this company, it is clear that our greatest opportunities lie in manufacturing - the original roots of our business.”
This transfer of ownership comes as the result of the strategic vision that seeks to align the company’s focus on its core manufacturing business. Founded in 1942, Jergens’ innovative pioneering of lean manufacturing served to quickly expand the company into a multifaceted integrated service line complete with its own distribution division in the form of JIS. In 2020, family shareholders reached a decision to divest from their distribution business and concentrate on growing the company’s already strong position in the manufacturing market.
Schron reinforces that the family-owned company and its 400 employees remain committed to the collective mission of helping customers achieve leaner, more profitable manufacturing efficiency.
“Our shareholders remain committed to our corporate family and to our customers. We will continue to build this company on the values we demonstrate every day and will be there to support and serve our customers with the very best service,” Schron said.