On January 31, 2017 Stoneridge Inc., completed the acquisition of Orlaco Products BV, a leading supplier of vehicle camera solutions in a transaction that is expected to be accretive to Stoneridge’s 2017 earnings per share.
Highlights
- Compelling strategic rationale that enhances Stoneridge’s vision and safety product portfolio
- Orlaco is an industry leader in camera-based vision systems
- Continues to diversify Stoneridge’s served markets and enhance its technology content per vehicle
A long history of innovation and deep customer connection has made Orlaco a leader in the field of vision and safety. Orlaco designs, manufactures and sells a wide variety of innovative camera-based vision systems, monitors and related products primarily to heavy off-road machinery, commercial on road vehicles, lifting cranes and the warehousing and logistics industry. These products provide a greater field of view in all operating conditions increasing the safe operation of a wide variety of working vehicles.
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 economy of commercial vehicles. The MirrorEye system integrates Orlaco’s camera technology and Stoneridge’s driver information capabilities (display, electronics and system integration) as well as the combined software capabilities of both companies.
“The acquisition of Orlaco has a strong and complementary strategic rationale, enhancing our plans to grow and diversify our business, serve new markets and deliver exceptional value to our customers and shareholders,” says Jon DeGaynor, President and Chief Executive Officer, Stoneridge, Inc. “This acquisition will enhance our global technical capabilities in vision systems. During our partnership over the past two years, Stoneridge and Orlaco have developed a strong partnership built on innovation and growth. Our MirrorEye™ system provides a solution to the safety and fuel economy challenges facing commercial vehicles and fleets while providing a platform for future growth adjacencies.”
"Innovation is critically important in today’s rapidly evolving vehicle marketplace. With this acquisition, Stoneridge is leveraging Orlaco’s existing entrepreneurial approach into greater optimized solutions for OEM customers than we could do as a stand-alone company,” says Henrie van Beusekom, Chief Executive Officer, Orlaco.
"Orlaco’s existing safety and vision capabilities will be augmented with Stoneridge as the new owner through expanded customer base and broader product capability. Our combined product portfolio and technologies will deliver a compelling value proposition to the vehicle industry.”
“Stoneridge, in combination with Orlaco, is merging the best of both worlds in safety and vision."
