Osborn parent company Jason Industries announced yesterday that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”), clearing the way for Jason to successfully complete its Chapter 11 financial restructuring and emerge in the coming days.

Upon emergence, Jason will be a private company backed by the strong ownership of its existing senior secured lenders, including Monomoy Capital Partners (“Monomoy”) and Credit Suisse Asset Management, LLC, each of whom will appoint representatives to serve on the new board of directors. The Company will reduce its debt by approximately $250 million, ensuring that Jason, and its businesses Osborn and Milsco, will have greater financial flexibility to support ongoing operations and pursue its strategic plan for the benefit of its employees, customers and business partners.