Lippert Components to Acquire RV Appliance Firm
(photo courtesy of Lippert Components)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowElkhart-based Lippert Components Inc. says it plans to purchase Elkhart-based Furrion Holdings Limited, a distributor of appliances and electronic products for the recreational vehicle and boating industries. A subsidiary of LCI Industries (NYSE: LCII), Lippert says it has entered into a definitive agreement to acquire Furrion for an undisclosed amount.
Lippert says Furrion has become a “premier supplier” of appliances, appliance accessories, and audio-visual products since entering the RV industry in 2007. In addition to supplying OEMs, Furrion has aftermarket business, both online and in-store.
“Our organizations got to know each other very well during our partnership in which Lippert sold Furrion appliances and electronic products to OEMs and aftermarket customers throughout the United States and Canada,” said Lippert President and Chief Executive Officer Jason Lippert. “I believe the two companies can do great things together, and I look forward to seeing how we can innovate products to transform the industries we serve.”
LCI says the transaction is expected to close in the third quarter of this year, subject to customary closing conditions, including regulatory approval.