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.”
About LCI Industries®
From over 140 manufacturing and distribution facilities located throughout North America, Africa and Europe, Lippert™ supplies a broad array of highly engineered components for the leading manufacturers of recreational vehicles, automobiles, watercraft and prefab homes. It also operates in adjacent markets, including hospitality, transportation, construction and agriculture. Lippert™ serves a wide range of aftermarket segments, providing high-quality products for the recreational vehicle / caravanning, automotive and marine industries. With over 12,500 team members and a diverse portfolio of best-in-class brands, Lippert™ adopts a team-based business philosophy and has proven that, by putting people first, the possibilities for growth and development are truly endless.
Lippert
52567 Independence Ct.
Elkhart, IN 46514
Email: marcom@lci1.com