05/05/2016

5 May 2016
5 May 2016, Comments Comments Off on Drew Industries acquires Project 2000
Drew Industries acquires Project 2000

Drew Industries Incorporated (NYSE: DW), a leading supplier of components for recreational vehicles (RVs) and manufactured homes, today announced that its wholly-owned subsidiary, Lippert Components, Inc. (LCI®), has acquired Project 2000 S.r.l., a Florence, Italy-based manufacturer of motorized entry steps, bed lifts and RV accessories.

“This is a significant step for LCI,” said Jason Lippert, CEO of Lippert Components and Drew Industries.  “We have been working tirelessly to establish a presence in the European caravan market for the last three years. Project 2000’s team, products and innovative focus were key factors in our decision to make this acquisition, and we believe they will provide a great foundation for LCI in the European RV market.”

Project 2000 was founded in 1995 by Davide Nardini and his wife Susanna Azzolini after a camping trip left him desiring more functionality out of his camper’s entry step. Nardini quickly engineered a better motorized step that was quickly adopted by the European caravan industry. Project 2000’s entry steps have evolved over the years to become a mainstay in the European RV market, and more innovative products followed. They began manufacturing television mounts in 2000, and in 2004 began production of a high-quality, space-saving bed lifting system that many US manufacturers use today.

“I have always had a passion to improve the RV experience,” said Davide Nardini, CEO of Project 2000. “I was drawn to Lippert Components because of their similar desire for innovation. I believe that, together, our companies can design and innovate some of the best RV products for the North American and European RV markets for years to come.”

Project 2000 is anticipated to be LCI’s springboard into the European RV supply market,” continued Lippert. “Project 2000’s world class team of designers and engineers will help transition LCI products, like slide-out mechanisms, into the European RV market. LCI’s strength in the North American RV market has always been bringing new and innovative products that enhance the mobile lifestyle. We plan on bringing more products and choices to the European market, and we expect to provide Project 2000 the necessary resources to develop these products.”