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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