---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-032437"
form_type: "8-K"
ticker: "STRT"
cik: "0000933034"
company_name: "STRATTEC SECURITY CORP"
filed_at: "2023-06-30T23:59:59+00:00"
generated_at: "2026-06-13T14:33:45.779683+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# STRATTEC sells its one-third VAST LLC stake to WITTE for $18.5M, gains full control of SPA

## Summary
- Net purchase price of $18.5M for the one-third VAST interest, subject to adjustments for taxes and expenses.
- Receives WITTE's 20% minority interest in SPA, making STRATTEC the sole owner of SPA.
- Also acquires net assets of VAST LLC's Korea branch, to be operated as a new Korea branch of STRATTEC.
- CEO says transaction allows redeployment of assets toward EV, power access, and electronics growth.
- Closings effective June 30, 2023; company expects to continue VAST brand collaboration with WITTE.

## SEC filing metadata
- accession: 0001140361-23-032437
- form_type: 8-K
- ticker: STRT
- cik: 0000933034
- company_name: STRATTEC SECURITY CORP
- filed_at: 2023-06-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/933034/000114036123032437/0001140361-23-032437-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/933034/000114036123032437/brhc20055256_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-032437
- JSON: https://secwatch.observer/filing/0001140361-23-032437.json
- Plain text: https://secwatch.observer/filing/0001140361-23-032437.txt

## Key facts
- Material Agreements
  STRATTEC SECURITY CORP entered into Equity Restructuring Agreement with WITTE Automotive GmbH valued at $18,500,000 (effective 2023-06-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: WITTE Automotive GmbH
  - Value: $18,500,000
  - Effective: 2023-06-29
  source text: On June 29, 2023, STRATTEC SECURITY CORPORATION (the " Company ") entered into an Equity Restructuring Agreement (the " Restructuring Agreement ") with WITTE Automotive GmbH (" WITTE ") providing for the restructuring of the Company's Vehicle Access Systems Technologies LLC (" VAST LLC ") and its STRATTEC Power Access LLC, a Delaware limited liability company (" SPA "), joint ventures.
  evidence_url: https://www.sec.gov/Archives/edgar/data/933034/000114036123032437/0001140361-23-032437-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.