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.
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