The Eastern Company Acquires Velvac Holdings, Inc. from Prospect Partners
April 4, 2017
The Eastern Company has acquired Velvac Holdings, Inc., a portfolio company of Prospect Partners, for $39.5 million plus an earnout tied to Road-iQ growth. Velvac — a designer and manufacturer of camera-enabled vision systems for medium and heavy-duty commercial vehicles and motorhomes — will operate as an independent subsidiary with its existing CEO continuing to lead the business.
- Buyers
- The Eastern Company
- Targets
- Velvac Holdings, Inc.
- Sellers
- Prospect Partners
- Industry
- Manufacturing
- Location
- Wisconsin, United States
- Transaction Type
- Buyout
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