Aftermarket

Velvac Announces Acquisition of K-10 Enterprizes

March 25, 2009

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Velvac, Inc., a manufacturer and supplier of components to the trucking industry, announced today that it has acquired the assets of K-10 Enterprizes of Mission, Tex.,
a supplier of blind-spot safety mirror systems for heavy-duty trucks.

Founded in 1979 by Bob and Lorraine Kolenda, K-10 pioneered hood- and fender-mounted blind spot mirrors with its "all-seeing" K-10 Eyeball Mirror, whose unique radius gives the driver detailed vision across the front and down the right side of heavy duty trucks and commercial vehicles. K-10 also offers a line of conventional convex mirrors that provide more detailed observation of select or critical viewing areas and are used primarily on commercial vehicles and off-road trucks.

"K-10 strengthens Velvac's presence in the heavy-duty truck mirror market by bringing us a premium line of hood- and fender-mounted mirrors," said Jeff Porter, Velvac president and CEO. "In addition, we felt that the combination of K-10's OEM and fleet relationships with Velvac's broad product line and advanced development capabilities created more ways for us to provide more value to our heavy truck customers."

While its primary focus has been to grow organically through product innovation and design leadership, Velvac has always been interested in exploring strategic acquisitions if the investment opportunity offered true synergy with the company's served markets, Porter said. "K-10 is a great example of the synergistic fit we seek," he explained.

With the acquisition, the Kolendas are retiring. Going forward, Velvac will integrate K-10's operations into its manufacturing facility in Reynosa, Mexico. Product engineering and supply-chain activities will move to Velvac's headquarters in New Berlin, Wis.

For more information, visit the Velvac's Web site at www.velvac.com.

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