“BCS has strong products and relationships and represents an opportunity for Stoneridge to immediately expand our presence in the military channel, which we believe has excellent strategic growth potential and is a good long-term complement to our existing business,” John Corey, Stoneridge CEO said in a release.
BCS will continue to be headed by its founder, William Bolton, until at least the year when Stoneridge is expected to take full control. BCS provides electrical solutions for several segments of the industry, including for automotive, marine and even military fields. The company employs roughly 110 people and operates an 80,000 square foot facility in Walled Lake, Michigan.
"We expect to…expand Stoneridge's product offering in the military channel and draw on BCS's strengths from its contacts in the industry,” Corey added.
Stoneridge on the other hand is much bigger, as it operates around 20 manufacturing centers and 18 sales offices around the world. The company specializes in producing electrical and electronic components for the automotive industry.
"By becoming part of Stoneridge's outstanding global organization, we will be able to expand our capabilities and serve our customers better," William Bolton concluded. "We believe this combination is a good fit and will contribute to the profitable growth of both operations."
Google News