On January 31, 2017, Stoneridge, Inc. (NYSE: SRI) (“Stoneridge” or the “Company”), a designer and manufacturer of highly engineered electrical and electronic components, acquired Orlaco Products BV (“Orlaco”), a leading supplier of vehicle camera solutions, for €75M on a debt-free, cash-free basis, with additional contingent consideration of up to €7.5M based on financial performance.
Orlaco designs, manufactures and sells a wide-variety of innovative camera-based vision systems, monitors and related products primarily to the heavy off-road machinery, commercial on-road vehicle, lifting crane, warehousing and logistics industries. The acquisition enhances Stoneridge’s vision and safety product portfolio, increases its technology content per vehicle, and provides additional customer, geographic, and market diversification.
Since July 2015, Stoneridge and Orlaco have jointly developed the MirrorEye™ mirror replacement system, which is the industry-leading solution to improve the safety and fuel efficiency of commercial vehicles. The MirrorEye™ system integrates Orlaco’s camera technology and Stoneridge’s driver information capabilities (displays, electronics and system integration), as well as the software capabilities of both companies. The combination provides for continued collaborative design and development of innovative vision and safety solutions.
Stoneridge, headquartered in Novi, Michigan, is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, commercial vehicle, motorcycle, agricultural and off-highway vehicle markets.
ORLACO PRODUCTS BV
Orlaco, headquartered in the Netherlands with offices in the United States, Germany, Canada and Japan, is a leading supplier of vehicle camera solutions that has successfully built a global business for nearly 25 years. It has strong, leading positions in heavy-duty off-road machines, on-road trucks, forklifts, and lifting mobile cranes, as well as the aftermarket and to OEMs.