P&F INDUSTRIES, INC. ACQUIRES BUSINESS OF JACKSON GEAR COMPANY
MELVILLE, N.Y., Jan. 18, 2022 /PRNewswire/ -- P&F Industries, Inc. (NASDAQ:PFIN) announced that effective January 15, 2022, through a wholly owned subsidiary of Hy-Tech Machine, Inc., it acquired substantially all the non-real estate assets comprising the business of Jackson Gear Company, a Pennsylvania-based corporation that manufactures and distributes custom gears and power transmission gear products. The purchase price consisted of an aggregate of $2.3 million in cash and the assumption of certain payables and obligations.
Richard Horowitz, P&F's Chairman, President and Chief Executive Officer, stated, "I am extremely pleased to announce the acquisition of the Jackson Gear business. Thi
