Rosco Vision Systems announced that it signed an agreement to acquire all assets of market competitor Mirror Lite Company. Terms were not disclosed, but Rosco added that the acquisition is expected to close by year's end.
In a statement, Rosco said the agreement expands the company's presences in the commercial vehicle industry by enabling it to extend the current offering of mirror products and to strengthen its position as a leading prodicer of automotive vision safety solutions for the commercial vehicle industry.
"The convergence of technology from both companies will enable Rosco to continue providing cutting edge vision safety products to the medium and heavy duty vehicle marketplace. Bringing the two organizations together will create efficiencies and synergies to help keep Rosco lean in today's competitive environment," said Ben Englander, Rosco's vice president of engineering.
The Mirror Lite Company was founded in 1956 and is headquartered in Rockwood, Mich. The company designs and produces mirror and sun visor products for the school bus, truck and military vehicle markets. President Bill Schmidt also announced his retirement and added that Mirror Lite will continue to support customers through the transition.
Rosco, meanwhile has more than 100 years of experience in the automotive vision safety market. In recent years, the company has expanded its product base to include back-up camera systems and continuous automotive event recorders.