VOXX International Corporation has purchased the assets of the parent of Rostra Brands in a deal valued at $16.5 million.
VOXX purchased the assets of Vehicle Safety Holding Corp. (VSHC) which operates Rostra Brands and Vehicle Safety Manufacturing, LLC. The companies produce electronics including camera systems, turn signal switches, lighting products, obstacle sensing systems, cruise control systems, specialized harnessing, and more.
VSHC will immediately become part of VOXX Automotive Corp. and is expected to add about $28 million annually to VOXX’s net revenue and approximately $3 million in Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), with further improvements in the future.
VSHC has been in operation over 40 years and has built strong customer relationships. It enjoys “a strong reputation for its design, engineering and manufacturing capabilities, and a consistent track record of innovation and growth,” said VOXX.
VOXX will bring its products into Rostra’s distribution channels.
Pat Lavelle, President and CEO of VOXX International said, “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,” Lavelle said.
“As we transition Rostra into VOXX, it will be business as usual with no changes with our employees, rep groups and distributors,” added Aron Demers, Senior VP of VOXX Electronics. “We are very excited to bring the Rostra business into both the VOXX Automotive and VOXX Electronics verticals. We look forward to expanding our other VOXX electronics products into the channels that Rostra has great relationship within.”
VOXX also said it continues to look for other acquisitions.
Angle Advisors served as the financial advisor to Vehicle Safety Holding Corp. on this transaction. VOXX International Corporation did not have any financial advisor.