Lippert Components Acquires Italian Based Manufacturer Stla
June 4, 2018
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.”
With over 90 manufacturing and distribution facilities located throughout North America, Europe, Africa, and Asia, Lippert™ is a leading, global manufacturer and supplier of highly engineered products and customized solutions dedicated to shaping, growing, and bettering the RV, marine, automotive, commercial vehicle, and building products industries, and their adjacent markets. Lippert also serves a broad array of aftermarket segments, supplying best-in-class products designed to enhance recreational pursuits, both on the road and on the water. From powerful towing technology and automated RV leveling systems, to boating furniture and one-of-a-kind shade solutions — Lippert combines strategic manufacturing capabilities with the power of our winning team culture to deliver unrivaled Customer Service, award-winning Innovation, and premium Products to every industry and person we serve.
3501 County Road 6 East
Elkhart, IN 46514