04/07/2017

4 July 2017
4 July 2017, Comments Comments Off on LCI Industries acquires Italian-based manufacturers Metallarte and RV Doors
LCI Industries acquires Italian-based manufacturers Metallarte and RV Doors

LCI Industries (NYSE: LCII) (“LCI”) announced that its whollyowned subsidiary, Lippert Components, Inc., has acquired Metallarte S.r.l., a Siena, Italy-based manufacturer of entry and compartment doors, and its subsidiary, RV Doors, S.r.l., a Venice, Italy-based manufacturer of driver-side doors, to the European caravan (RV) market. Consolidated sales of the acquired business for 2016 were approximately €11 million (US$12 million).

“Metallarte is a wonderful and quickly growing European caravan components supplier,” said LCI’s President Scott Mereness. “In 2016, we acquired Italian-based Project 2000 S.r.l., a manufacturer of motorized entry steps, bed lifts and RV accessories, as a foundation for LCI in the European RV market. We followed Project 2000 with another Italian-based company, train window manufacturer Sessa Klein S.p.A. Metallarte. is our third European acquisition in 13 months. We believe this transaction further accelerates the opportunities to expand LCI’s product offerings for the European RV market. We welcome Metallarte to LCI, and look forward to working closely with their team to grow their business in Europe. We expect this acquisition to be immediately accretive to LCI’s earnings.”

 

“We continue to build on our international growth opportunities,” continued Mereness. “Our strong balance sheet combined with excellent operating cash flow allows us to continue to significantly invest in future growth. The European RV market produces 170,000 units annually and we look to expand our presence as a key supplier to this market.”