Lippert Components Acquires Window and Glass Business of Hehr International Inc
February 16, 2018
Elkhart, Indiana – LCI Industries (NYSE: LCII) (“LCI®”), a supplier of components for the leading original equipment manufacturers (“OEMs”) of recreational vehicles (“RVs”) and adjacent industries, and the related aftermarkets of those industries, today announced that its wholly-owned subsidiary, Lippert Components Manufacturing, Inc., has acquired substantially all of the business assets of Hehr International Inc. (“Hehr”). Headquartered in Los Angeles, California, Hehr manufactures windows as well as tempered and laminated glass for the RV, transit, specialty vehicle, and other adjacent industries. Hehr, which operates out of five U.S. locations, achieved sales of approximately $55 million for the twelve months ended December 2017.
“We are excited to add Hehr’s business and employees to our growing portfolio of window and glass solutions for the RV and specialty vehicle markets,” said LCI’s CEO Jason Lippert. “Hehr represents many characteristics we look for in acquisitions: great teams, great products with diversified markets, and a great opportunity for growth.”
The Hehr team will remain with LCI to lead the acquired business under the direction of Josh Roan, Vice President of Operations.
Hehr CEO Mary Utick added, “We are thrilled to be part of the LCI team. Joining forces with an industry leader such as Lippert presents unique opportunities for growth, continued innovation, and overall advancement. We look forward to our future together.”
LCI President Scott Mereness added, “Hehr’s geographic diversification allows us to better serve our customers. Additionally, their customer base is a great mix of various industries that we know or are targeting for growth. Hehr is another highly strategic LCI investment. We expect to leverage our purchasing, sales, distribution, and administrative capabilities to improve the profitability of this business, and we expect this acquisition to be immediately accretive to LCI’s earnings.”
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 and prefab homes. It also operates in adjacent markets, including marine, bus, industrial vehicles and trains. Lippert™ also serves a wide range of aftermarket segments, providing high quality products for the caravanning, automotive and marine industries. With over 15,000 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.
3501 County Road 6 East
Elkhart, IN 46514