Business
Stoneridge Completes Strategic Review with Sale of Control Devices Segment
Stoneridge, Inc. (NYSE: SRI) today announced that it has completed the sale of its Control Devices segment to an affiliate of Center Rock Capital Partners, LP ("Center Rock"), a private investment firm specializing in driving long-term value creation for middle-market industrial businesses. The transaction was closed, effective as of January 30, 2026, concurrent with the signing of the definitive agreement to sell the Control Devices segment.
About this update from Stoneridge, Inc.
[{"type":"text","content":"Transaction Closed January 30, 2026, with a Base Purchase Price of $59 Million","length":78,"tagName":"p","attribs":{}},{"type":"text","content":"NOVI, Mich., Feb. 2, 2026 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced that it has completed the sale of its Control Devices segment to an affiliate of Center Rock Capital Partners, LP ("Center Rock"), a private investment firm specializing in driving long-term value creation for middle-market industrial businesses. The transaction was closed, effective as of January 30, 2026, concurrent with the signing of the definitive agreement to sell the Control Devices segment.","length":498,"tagName":"p"},{"type":"image","alt":"Stoneridge, Inc. (PRNewsfoto/Stoneridge Inc.)","displaySize":"","headline":null,"caption":"Stoneridge, Inc. (PRNewsfoto/Stoneridge Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":176,"url":"https://media.zenfs.com/en/prnewswire.com/b0574b255d132598eabfd9b1f45666ed"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/sNzu9DQQ0Fy9fP5e_ONJ.A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMxMDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/b0574b255d132598eabfd9b1f45666ed","width":400,"height":176}},"href":"https://mma.prnewswire.com/media/2874335/Stoneridge_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The sale was completed with a base purchase price of $59 million. Stoneridge will use the net cash proceeds, after tax and transaction-related expenses, to repay its debt and strengthen its balance sheet.","length":204,"tagName":"p"},{"type":"text","content":"The sale of Control Devices will allow Stoneridge to accelerate and support its core growth platforms in both Electronics and Brazil and support strategic initiatives that position the Company for long-term success.","length":215,"tagName":"p"},{"type":"text","content":""This transaction is a critical step in our long-term strategy. As I outlined when we first announced our strategic review, we are seeing record-breaking business wins in several of our core growth platforms in both Electronics and Stoneridge Brazil. To support and accelerate these growth opportunities, we will now be able to dedicate our capital and resources to these businesses to drive future growth. As a result of this transaction, Stoneridge will be more...