Lippert to Acquire New York Supplier

Posted: Updated:
Lippert Components is one of the major companies looking to fill open positions. Lippert Components is one of the major companies looking to fill open positions.
ELKHART -

A subsidiary of Elkhart-based LCI Industries (NYSE: LCII) has announced plans to acquire New York-based marine and industrial supplier Taylor Made Group LLC. Lippert Components Inc. says the deal is expected to close within two weeks, once a purchase agreement has been signed.

Financial terms of the acquisition were not disclosed. LCI says once the deal closes, the majority of the Taylor Made team will remain with LCI to lead the acquired business, which will be under the director of Vice President of Operations Jason Falk. 

LCI President Scott Mereness says the acquisition is the company's largest in the last 22 years.

"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 Mereness. "Taylor Made has many characteristics we look for in acquisitions: great teams, great products with diversified markets, and a great opportunity for growth. With revenue composition of 20% aftermarket, 25% industrial, and 15% international, Taylor Made is a great balance of diversified revenues."

Taylor Made operates out of 10 facilities, including two in Europe. In 2017, the company reported sales of approximately $150 million.

  • Perspectives

    • Tax Planning: Now’s the Time to Tackle It!

      Year-end is still months away, but smart investors have already begun their tax planning. Spending time analyzing your capital-gain situation could benefit you come next April 15th, no matter what investment vehicles you use - individual securities, mutual funds, exchange traded funds, or others. Here's how…

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Wesemann Hall at the Valparaiso University Law School (photo courtesy Tony V. Martin/The Times of Northwest Indiana)

      Valpo School of Law Transfer Denied

      A proposal to transfer Valparaiso University's law school to another university has been shot down. The Tennessee Higher Education Commission has denied the transfer to Middle Tennessee State University, which would have led to the creation of a College of Law at the school. 

    • Harris Corp. employs nearly 500 at its Fort Wayne facility.

      Planned Defense Mega-Merger Involves Fort Wayne Operation

      A defense industry contractor with a presence in Fort Wayne has announced a merger agreement. Florida-based Harris Corp. (NYSE: HRS) and L3 Technologies Inc. (NYSE: LLL) in New York say the combination will create the sixth-largest defense company in the country. In early-2015, Harris completed the $4.75 billion acquisition of Exelis, a long-time manufacturer of military radio technology in Fort Wayne. Shortly after the acquisition, Harris consolidated...

    • Henkel Corporation Acquires Muncie-Based Company

      Muncie-based Magna-Tech Manufacturing has been acquired by Henkel Corporation. Henkel is the U.S. subsidiary of Henkel AG &Co. KGaA in Germany.
    • Daniels Envisions Purdue, Region as 'Cooler Place'

      Purdue University President Mitch Daniels says a more than $1 billion live, work, play development on the West Lafayette campus will be a magnet for attracting and keeping top talent in the region. The Discovery Park District is part of a 30-year vision to transform the west side of the Purdue campus and create a "preeminent environment" for educational, economic, cultural and community activities in the region.

    • More Indiana Sears, Kmart Stores to be Cut

      Multiple Sears and Kmart stores throughout Indiana will be victims of the latest round of closures prompted by the parent company's bankruptcy filing. Illinois-based Sears Holdings Corp. (Nasdaq: SHLD) says a total of 142 locations will be shuttered as part of efforts to return to longterm profitability and competitiveness. Liquidation sales are slated to begin soon and the stores are expected to close by the end of the year. In its most recent earnings report, the company announced...