Lippert Components acquires Italian-based manufacturer STLA
Elkhart, Indiana – LCI Industries (NYSE: LCII), which, through its wholly-owned subsidiary, Lippert Components Inc., supplies a broad array of engineered products for the leading original equipment manufacturers of leisure and mobile transportation and adjacent industries, and the related aftermarkets of those industries, today announced that it has acquired STLA s.r.l, a Pontedera, Italy-based manufacturer of bed-lifts and other recreational vehicle (“RV”) components for the European caravan market. STLA sales for 2017 were approximately €18 million (US$21 million).
The purchase price was €13.2 million (US$15.4 million), which was paid at closing. After funding the acquisition, LCI remains well-positioned to take advantage of other investment opportunities.
“We believe this transaction accelerates the opportunities to expand LCI’s product offerings for the European RV market,” said LCI’s President, Scott Mereness. “We welcome STLA to LCI, and look forward to working closely with its team to grow its business in Europe.”
“This is our third acquisition in 2018,” continued Mereness. “Our strong balance sheet combined with solid operating cash flow positions the company to invest in future growth. With over five billion dollars of incremental addressable market, we continue to strategically position the company to take advantage of that runway.”
From over 70 manufacturing and distribution facilities located throughout North America and Europe, LCI Industries, through its wholly-owned subsidiary, Lippert Components, Inc., supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries primarily by selling to retail dealers, wholesale distributors, and service centers. LCI's products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; electronic components; appliances; televisions, sound systems, navigation systems, and backup cameras; and other accessories. Additional information about LCI and its products can be found at www.lci1.com.
Lippert Components, Inc.
3501 County Road 6 East
Elkhart, IN 46514