Lippert Components, a subsidiary of LCI Industries, plans to acquire the Taylor Made Group. Terms were not disclosed, but a statement said the deal is expected to close in two weeks if terms are agreed upon.
Taylor Made’s 2017 sales were around US$150m. It operates 10 facilities, including two in Europe. Its sales break down to 20% aftermarket, 25% industrial and 15% international.
“LCI is one of the leading providers of windows for the RV towable industry, and with the addition of Taylor Made’s products, will be a leading supplier of marine and industrial market windshields as well,” said Scott Mereness, LCI president, in a statement. “We expect to leverage our purchasing, sales, distribution, and administrative capabilities to improve the profitability of this business, and we expect this acquisition to be immediately accretive to LCI’s earnings.”
Lippert Components has 52 manufacturing and distribution facilities in the US, Canada and Italy. Taylor Made will be LCI’s largest acquisition in the last 22 years. “It is representative of our strategy of quickly assembling a portfolio of companies and products that will help us become a major contributor to marine component designs and solutions,” said Mereness.
Most of Taylor Made’s executive teams will remain after the acquisition under the leadership of Jason Falk, LCI vice president of operations.
In July, the company acquired the marine seating business of Lexington LLC for US$40m.