Motus LLC entered into a definitive agreement to acquire Fiber Solutions Segment from Jason Industries, Inc. (NasdaqCM:JASN) for $85 million on August 11, 2019. The sale of fiber solutions for approximately $85 million includes cash consideration of up to $5 million contingent on achievement of certain performance conditions during 2019. The consideration is subjected to customary closing, performance, and other requirements. Upon completion, operations of Fiber Solutions Segment in United States and Mexico will become a new subsidiary of Motus LLC. Fiber Solutions Segment contributed approximately $144 million to Jason’s trailing twelve- month sales ending June 28, 2019. Upon closing, leaders and key members of the Fiber Solutions Segment will join the Motus LLC leadership team. The transaction is expected to complete late in the third quarter and is not subject to regulatory review and approval. Christopher Zochowski, Becky Troutman, Eleni Kouimelis, Peter Alfano, Scott Landau, Rob Heller, Bill Lang, Richard Falek and Conor Reidy of Winston & Strawn LLP acted as legal advisors to Motus Integrated Technologies. Godfrey & Kahn, S.C. acted as legal adviser and Lincoln International LLC acted as financial adviser to Jason Industries, Inc. in the transaction. Motus LLC completed the acquisition of Fiber Solutions Segment of Jason Industries, Inc. from Jason Industries, Inc. (NasdaqCM:JASN) on August 30, 2019. Jason Industries expects to use the net proceeds from the sale to reinvest in its remaining businesses or retire debt.