Lippert Components Completes Acquisition of Curt Group
December 19, 2019
Elkhart, Indiana - December 19, 2019 - LCI Industries (NYSE: LCII) today announced that its wholly-owned subsidiary, Lippert Components, Inc. (“LCI”), a supplier of a broad array of highly engineered components for the leading original equipment manufacturers (“OEMs”) in the recreation and transportation product markets, and the related aftermarkets of those industries, has completed the previously announced acquisition of CURT Group (“CURT”) for approximately $340 million.
CURT, headquartered in Eau Claire, Wisconsin, is a leading manufacturer and distributor of branded towing products and truck accessories for the aftermarket. CURT maintains a robust product portfolio comprised of thousands of SKUs across various product lines, including hitches, towing electricals, ball mounts, and cargo management. CURT brands include CURT, Aries, Luverne, Retrac, and UWS.
LCI funded the purchase price through a combination of available cash, borrowings under its revolving credit facility, and an incremental term loan of $300 million under its amended credit agreement.
About LCI Industries®
With over 120 manufacturing and distribution facilities located throughout North America and EMEA, Lippert is a leading global manufacturer and supplier of highly engineered components 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 industries, 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.
Lippert
52567 Independence Ct.
Elkhart, IN 46514
Email: marcom@lci1.com