VOXX INTERNATIONAL CORPORATION HAS ACQUIRED VEHICLE SAFETY HOLDING CORP.
Birmingham, Michigan – February 4, 2020 – Angle Advisors is pleased to announce that VOXX International Corporation (“VOXX”) has acquired Vehicle Safety Holding Corp. (“VSHC” or the “Company”) from Superior Capital Partners, LLC (“Superior Capital”). Angle Advisors acted as the exclusive investment banking advisor to VSHC in completing this transaction.
Based in Aberdeen, NC, and with operations in Newark, NJ and Jacksonville, FL, VSHC is a leading developer, manufacturer and distributor of safety electronics for light vehicles, heavy-duty trucks, and specialty vehicles. Through its Vehicle Safety Manufacturing, LLC and Rostra Brands subsidiaries, the Company’s offering comprises a wide variety of safety-oriented electronics, including turn signal switches, lighting products, obstacle sensing systems, cruise control systems, camera systems, specialized harnessing, and other related components. VSHC markets and sells its products through a diverse aftermarket distribution network, as well as to some of the world’s largest Original Equipment Manufacturers (“OEM”), Original Equipment Service Distributors (“OES”) and specialty vehicle manufacturers, among other channels. With over 40 years of history, VSHC has built long-standing customer relationships, a strong reputation for its design, engineering and manufacturing capabilities, and a consistent track record of innovation and growth.
“First and foremost, I’d like to welcome all VSHC employees to the VOXX family and express my excitement over this transaction. The team at VSHC has built a great business throughout the years, with brands that are synonymous with high-quality products and innovation. Both VSM and Rostra Brands have customer relationships that are well-established, diverse product assortments and we believe, opportunities for expansion given the markets they serve and their competitive position,” stated Pat Lavelle, President and CEO of VOXX International Corporation.
“As we’ve been communicating with our investors, we have been looking at potential deals that could strengthen our business, add new revenue streams and leverage our strengths. With VSM and Rostra Brands, we found the perfect fit. Not only do we add new solutions in stable and growing markets, we add new distribution channels and customers, and have the ability to leverage our relationships to further advance their business. Our strong balance sheet afforded us this opportunity and we will continue to look for other transactions that will generate growth, add EBITDA and cash flow, and offer our customers a greater product assortment and value-added services,” Lavelle continued.
“We would like to thank the team at Angle Advisors for its leadership on this transaction,” added Mark Carroll, Managing Director at Superior Capital. “Angle was able to leverage their deep industry experience to properly position the Company and highlight VSHC’s strengths in engineering, recently awarded new business, manufacturing know-how, and diverse channel reach in a compelling manner. This, coupled with Angle’s strategic buyer relationships, provided for a successful outcome.”
VOXX International Corporation (NASDAQ: VOXX) has grown into a worldwide leader in Automotive Electronics and Consumer Electronics, with emerging Biometrics technology to capitalize on the increased need for advanced security. Over the past several decades, with a portfolio of over 30 trusted brands, VOXX has built market-leading positions in in-vehicle entertainment, automotive security, reception products, a number of premium audio market segments, and more. VOXX is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and many of the world’s leading automotive manufacturers. For more information, please visit www.voxxintl.com.
As a special situation investor, Superior Capital Partners, LLC combines capital, transaction experience and operational improvement expertise with proven management teams who have the vision, capability and commitment to successfully improve and grow their businesses. Superior seeks to acquire or recapitalize niche manufacturers, value-added distributors and specialty service companies. Since its founding in 2007, Superior has acquired or invested in 23 companies. Generally, these companies will have annual revenue of $10 to $150 million, identifiable growth opportunities and the need for capital and resources to implement a growth and recovery plan. For more information, please visit www.superiorfund.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the vehicular and industrial sectors. The firm’s professionals have completed 219 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.