RV Manufacturer Acquires Italian Company

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ELKHART -

Elkhart-based LCI Industries (NYSE: LCII) has announced its subsidiary, Lippert Components Inc., had acquired Italy-based manufacturer Sessa Klein S.p.A. The $8.5 million deal is expected to close in the next 30 days.

LCI says the acquisition will be completed with cash, plus a contingent consideration based on future sales. The company did not immediately state whether any jobs at Sessa Klein, which manufactures side window systems for high-speed and commuter trains, would be affected by the deal, though LCI President Scott Mereness says the company's management team will "continue to serve their existing customers."

"Sessa Klein has an excellent management team, and a great reputation in the international rolling stock industry for the sophisticated engineering and design of their window products,” said Mereness. "We believe the addition of Sessa Klein’s products and diversified customer base opens a door into a new adjacent market for LCI. We are enthusiastic about growing market share in their core train markets in Europe as well as the United States. Additionally, we believe this transaction accelerates the opportunities to expand LCI’s product offerings for the European RV market, particularly for caravan windows."

LCI says the acquisition remains subject to agreement on final terms and customary closing conditions. 

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