Cleary Gull Inc. is pleased to announce that Velvac Holdings, Inc., a portfolio company of Prospect Partners, has been acquired by The Eastern Company. Cleary Gull acted as exclusive financial advisor to Velvac in this transaction.

Velvac, (www.velvac.com) founded in 1934 serves diverse markets within the heavy and medium duty truck, motorhome and bus markets. Velvac is a leading innovator of proprietary vision systems for commercial vehicles and motorhomes. Velvac introduced its first camera-enabled vision system in 2006 and now sells approximately 45,000 camera-enabled units annually. Velvac recently introduced its Road-iQ™ 360-degree view camera, recording and communication system and announced TrailerLink™, a new patent-pending solution that supports trailer-to-tractor video and data communications.