RTTNews | Aug 4, 2021 09:39AM EDT

09:38 Wednesday, August 4, 2021 (RTTNews.com) - LCI Industries (LCII) on Wednesday said its wholly-owned subsidiary, Lippert Components, Inc., agreed to acquire Furrion Holdings Limited, a distributor in the recreational vehicle, specialty vehicle, utility trailer, horse trailer, marine, transit bus, and school bus industries.

Lippert is a supplier of highly engineered components for the original equipment manufacturers in the recreation and transportation product markets.

The financial details of the transaction have not been disclosed.

The transaction is expected to close in the third quarter of this year.

With headquarters in Hong Kong, China, and Elkhart, Indiana, Furrion has become a premier supplier of appliance, appliance accessories, and audio-visual products since entering the RV industry in 2007 and is best known for innovating new appliance products and introducing state-of-the-art camera technology. Furrion's forecasted 2021 sales are approximately $230 million.

Lippert's plan is to use its existing relationships to expand Furrion's distribution of products into its sales channels, including RV, marine, Europe, and adjacent industries, as well as the aftermarkets of those industries.

The shares of LCI Industries are currently trading close to the flatline at $143.25, with a dip of $0.02, or 0.01 percent from previous close.

Read the original article on RTTNews ( https://www.rttnews.com/3215861/lci-industries-unit-to-buy-furrion-holdings.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved