0001144204-17-005226.txt : 201702010001144204-17-005226.hdr.sgml : 2017020120170201080132ACCESSION NUMBER:0001144204-17-005226CONFORMED SUBMISSION TYPE:8-KPUBLIC DOCUMENT COUNT:16CONFORMED PERIOD OF REPORT:20170201ITEM INFORMATION:Regulation FD DisclosureITEM INFORMATION:Financial Statements and ExhibitsFILED AS OF DATE:20170201DATE AS OF CHANGE:20170201

FILER:

COMPANY DATA:COMPANY CONFORMED NAME:STONERIDGE INCCENTRAL INDEX KEY:0001043337STANDARD INDUSTRIAL CLASSIFICATION:MOTOR VEHICLE PARTS & ACCESSORIES [3714]IRS NUMBER:341598949STATE OF INCORPORATION:OHFISCAL YEAR END:1231

FILING VALUES:FORM TYPE:8-KSEC ACT:1934 ActSEC FILE NUMBER:001-13337FILM NUMBER:17563124

BUSINESS ADDRESS:STREET 1:9400 EAST MARKET STCITY:WARRENSTATE:OHZIP:44484BUSINESS PHONE:3308562443

MAIL ADDRESS:STREET 1:9400 EAST MARKET STCITY:WARRENSTATE:OHZIP:44484

8-K1v458092_8-k.htmFORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of theSecurities Exchange Act of 1934

Date of Report (Date of earliest event reported):February 1, 2017

Commission file number: 001-13337

STONERIDGE, INC.

(Exact name of registrant as specifiedin its charter)

Ohio 34-1598949

(State or other jurisdiction of (I.R.S. Employer

incorporation or organization) Identification No.)

39675 MacKenzie Drive Suite 400, Novi, Michigan 48377

(Address of principal executive offices) (Zip Code)

(248) 489-9300

Registrants telephone number, includingarea code

Check the appropriate box below if the Form 8-K filing is intendedto simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General InstructionA.2. below):

oWritten communications pursuant to Rule 425 under theSecurities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under theExchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c)under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01Regulation FD Disclosure.

On January 31, 2017, Stoneridge B.V., an indirect wholly-ownedsubsidiary of Stoneridge, Inc., entered into an agreement to acquire Wide-Angle Management B.V. and Exploitatiemaatschappij BerghaafB.V. (Orlaco). The attached presentation provides an overview of Orlaco and the acquisition.

The presentation furnished as Exhibit 99.1 hereto, which wasposted to the Stoneridge, Inc. website on February 1, 2017, shall not be deemed to be filed for purposes of Section18 of the Securities and Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilitiesof that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or theExchange Act, except as shall be expressly set forth by specific reference in such a filing. In addition, the exhibit furnishedherewith contains statements intended as forward-looking statements that are subject to the cautionary statementsabout forward-looking statements set forth in such exhibit.

ITEM 9.01Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No. Description

99.1

Orlaco Transaction Overview presentation dated February1, 2017.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Actof 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Stoneridge, Inc.

Date: February 1, 2017 /s/ Robert R. Krakowiak

Robert R. Krakowiak,

Chief Financial Officer and Treasurer

(Principal Financial Officer)

Exhibit Index

99.1

Orlaco Transaction Overview presentation dated February1, 2017.

EX-99.12v458092_ex99-1.htmEXHIBIT 99.1

Exhibit 99.1

1 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Technologies In Motion Orlaco Transaction Overview February 1, 2017

2 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Forward Looking Statements Statements in this presentation that are not historical facts are forward - looking statements, which involve risks and uncertaint ies that could cause actual events or results to differ materially from those expressed or implied by the statements. Important factors that may cause actual results to differ materially from those in th e f orward - looking statements include, among other factors, the loss or bankruptcy of a major customer; the costs and timing of facility closures, business realignment or similar actions; a significant change in me dium - and heavy - duty truck, automotive or agricultural and off - highway vehicle production; our ability to achieve cost reductions that offset or exceed customer - mandated selling price reductions; a significa nt change in general economic conditions in any of the various countries in which Stoneridge operates; labor disruptions at Stoneridges facilities or at any of Stoneridges significant customers or supplier s; the ability of suppliers to supply Stoneridge with parts and components at competitive prices on a timely basis; the amount of Stoneridges indebtedness and the restrictive covenants contained in the agr eements governing its indebtedness, including its asset - based credit facility and senior secured notes; customer acceptance of new products; capital availability or costs, including changes in interest r ate s or market perceptions; the failure to achieve successful integration of any acquired company or business; the occurrence or non - occurrence of circumstances beyond Stoneridges control; and the items descr ibed in Risk Factors and other uncertainties or risks discussed in Stoneridges periodic and current reports filed with the Securities and Exchange Commission. Important factors that could cause the performance of the commercial vehicle and automotive industry to differ materially fro m t hose in the forward - looking statements include factors such as (1) continued economic instability or poor economic conditions in the United States and global markets, (2) changes in economic conditions, ho using prices, foreign currency exchange rates, commodity prices, including shortages of and increases or volatility in the price of oil, (3) changes in laws and regulations, (4) the state of the credi t m arkets, (5) political stability, (6) international conflicts and (7) the occurrence of force majeure events. These factors should not be construed as exhaustive and should be considered with the other cautionary statements in Stonerid ge s filings with the Securities and Exchange Commission. Forward - looking statements are not guarantees of future performance; Stoneridges actual results of operations, financial condit ion and liquidity, and the development of the industry in which Stoneridge operates may differ materially from those described in or suggested by the forward - looking statements contained in this presenta tion. In addition, even if Stoneridges results of operations, financial condition and liquidity, and the development of the industry in which Stoneridge operates are consistent with the forward - looking statemen ts contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods. This presentation contains time - sensitive information that reflects managements best analysis only as of the date of this prese ntation. Any forward - looking statements in this presentation speak only as of the date of this presentation, and Stoneridge undertakes no obligation to update such statements. Comparisons of results for cu rrent and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data. Stoneridge does not undertake any obligation to publicly update or revise any forward - looking statement as a result of new infor mation, future events or otherwise, except as otherwise required by law. Rounding Disclosure: There may be slight immaterial differences between figures represented in our public filings compared t o w hat is shown in this presentation. The differences are the a result of rounding due to the representation of values in millions rather than thousands in public filings.

3 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Transaction Overview Orlaco is a leading provider of camera - based vision systems for the commercial vehicle, warehousing and logistics vehicle, crane, and off - shore and on - shore applications markets Stoneridge and Orlaco have worked jointly for approximately 2 years integrating Orlacos camera technology with Stoneridges driver information technology to develop the Mirror Eye TM system a leading solution for enhancement of safety and fuel efficiency in commercial vehicle applications This transaction aligns with Stoneridges long - term, strategic vision of increasing technology content per vehicle and enhancing Stoneridges portfolio of higher value products / sub - systems / systems Additionally, this transaction enhances Stoneridges customer and geographic diversification Stoneridge acquires 100% of the shares of Orlaco in a cash free / debt free acquisition Base Purchase Price : 75M Two year e arn - out based on cumulative EBITDA hurdles: Up to 7.5M of additional purchase consideration Total consideration up to 82.5M Expected to be accretive to earnings in year 1 Stoneridges Acquisition of Orlaco Enhances Long - Term Strategy and Shareholder Return

4 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Orlaco Overview Founded in 1989 Engages in the development, manufacturing, supply and servicing of camera and display systems Products are used in warehousing and logistics vehicles, commercial vehicles, cranes, and off - shore and on - shore explosion proof solutions Sells through a network of dealers globally Company based in Barneveld, Netherlands and employs ~150 people 2016 Revenue: 50m - 53m (Unaudited) 2016 Adjusted operating profit: 8.5m - 9.5m (Unaudited) Additional financial information will be available on our Q1 earnings call

5 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Stoneridge Organizational Structure Sensors : Temperature, Speed, Position, Pressure , Fluid Level, Torque, Particle Matter (Soot) Evaporative Emission Reduction and Solenoid Control Valves High Performance Actuators Driver Information Systems Telematic Systems Advanced Modules (ECU) Power & Switch Modules Tachograph Systems Electronic Logging Devices Instrumentation Sensors STONERIDGE ELECTRONICS STONERIDGE CONTROL DEVICES Electronic Modules Telematics Track & Trace Safety & Security Alarm & Remote Access Audio PST ELETRNICA (JV, BRAZIL) MINDA - STONERIDGE (JV - India) Camera Radar Displays Video Recording STONERIDGE INC . (NYSE: SRI )

6 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Orlaco Market and Product Segments* Camera 41% Monitor 28% Cable 15% Systems 16% Heavy Equipment 33% Trucks 14% Material Handling 22% Misc. 31% Europe 70% North America 25% Asia 4% Other 2% The transaction continues to diversify Stoneridges geographic and product diversity through Orlacos existing customer base and portfolio *Market and product segment information approximate based on historical results

7 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Orlaco History of Technology Innovation

8 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Orlaco Product Capabilities On - Road Truck Heavy Equipment

9 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Orlaco Product Capabilities Crane Forklift

10 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Mirror Eye TM Product Overview Mirror Eye TM Benefits Safety Reduction/Elimination of blind spot Overtake warning Vision enhancement Expanded view Improved aerodynamics & fuel economy Mirror Eye TM Features High resolution cameras Superior image quality Power fold Automatic panning Targeting 2019 2020 OEM Product Launch Received positive feedback at recent industry trade shows from OEMs and fleets Already completed follow - up technology showcase with large North American fleet from ATA Conference discussion MirrorEye TM is evolving into a Significant Growth Opportunity

11 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Changing our Customer Solution Set Build to Print Design to a Market Need Sub - System System Build to Print Increasingly own and develop IP Competitive intensity Development Capability and Capacity Higher Higher Lower Lower

12 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Content Per Vehicle 2014 2015 2016 2017 2018 2019 MEDIUM / HD CAR / LT TRUCK Legacy Business Avg. Selling Price < $10 Near - term opportunities ( Mirror Eye TM ) Avg. Selling Price > $1,000 Recent Awards ( Soot Sensor and SBW ) Avg. Selling Price Soot Sensor > $40 Avg. Selling Price SBW > $140

13 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Value Creation / Synergies Leverage Stoneridges customer relationships to expedite Orlaco growth Introduce Stoneridges products to Orlaco channels and customers Expansion of products and technologies Geographic market expansion Procurement synergies Supply chain efficiencies Design and development efficiencies Leverage best practices across both organizations Vertical integration of key Mirror Eye TM components Diversify customers Diversify markets Improved working capital efficiency Efficient tax structure Existing Business Expansion Cost and Efficiency Improvements Asset Utilization Risk Mitigation By continuing to leverage the existing relationship between Orlaco and Stoneridge and implementing each businesses best practices related to operational and financial efficiency we will drive significant value creation to both businesses Mirror Eye TM Future advanced driver assistance systems (ADAS) New Product Growth

14 The information in this document belongs to Stoneridge, Inc. or its subsidiaries and may be confidential. This document and inf ormation in it may not be copied, reproduced, revealed or appropriated, either in whole or in part, without the prior written consent of Stoneridge, Inc. | STONERIDGE Summary Expected to be accretive to earnings in year 1 Stoneridge and Orlaco have worked jointly for approximately 2 years integrating Orlacos camera technology with Stoneridges driver information technology to develop the Mirror Eye TM system a leading solution for enhancement of safety and fuel efficiency in commercial vehicle applications This transaction aligns with Stoneridges long - term, strategic vision of increasing technology content per vehicle and enhancing Stoneridges portfolio of higher value products / sub - systems / systems This transaction enhances Stoneridges customer and geographic diversification Stoneridges Acquisition of Orlaco Enhances Long - Term Strategy and Shareholder Return

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