Prospect Partners LLC along with Jeffery R Porter announced the acquisition of Velvac Inc of New Berlin WI. Velvac manufactures and supplies exterior mirror systems and component parts to the truck, recreational, and specialty vehicle industries.
Porter, who invested in the new company and will be chief executive officer, was formerly a group president at Crane Co of Stamford CT, a diversified manufacturer of engineered industrial products for niche markets. He also has served in executive positions at Messer Cutting & Welding in Menomonee Falls WI and at Ingersoll Milling Machine Co in Rockford IL. Porter succeeds Gwen Greeler, majority Velvac shareholder and former CEO. He will be joined by the members of Velvac's current management team.