2010 - ESOP
“What will happen to our brand, our people, and our community?” This was a question proposed by our CEO Doug Bawel several years ago when Jasper Engines & Transmissions was approached by a larger competitor to purchase the company. That question led the owners, made up of family members primarily of the Schwenk and Bawel families, to discuss the future of JASPER®. They wanted to protect our people and their families, the local communities, our quality products and the name behind them. According to Doug, selling the company “just didn’t feel right.” In order to preserve what JASPER has built since 1942, based on our founder Alvin C. Ruxer’s principle, “to think differently and work a little harder”, the owners confidently decided against selling the company and instead, formed a 100% ESOP (Employee Stock Ownership Plan).
Since the inception of the ESOP in 2010, JASPER has seen immense growth. In 2010, we had grown to approximately $280 million in revenue and approximately 1,800 Associates nationwide. In the last 12 years we have continued to grow and prosper through some strategic acquisitions which included Mac Motors Postal Parts, Weller Truck Parts, Diesel USA Group, D&W Diesel, and Jer-Den Plastics. Today, we have $1 Billion in revenue, over 4,300 Associate-Owners and our stock has grown from $2.30/share to over $873.48/share in 13 years. We have expanded our drivetrain remanufacturing facilities in Jasper, Leavenworth, IN and Willow Springs, MO.