A subsidiary of Elkhart-based Lippert Components Inc. has acquired a railway interior products and systems manufacturer headquartered in Italy. Financial details LCI Italy S.r.l.'s deal for Ciesse S.p.A. were not disclosed.
LCI says Ciesse will bring its management team as a result of the transition, which it says will help the company offer a wider variety of railway products.
“The addition of Ciesse’s products, leadership, and customer base allows us to continue our growth and pursuit of obtaining a more complete suite of components and solutions for the global rail industries,” said Jason Lippert, chief executive officer and president of LCI. “As the overseas rail market is beginning to see some real growth, we are enthusiastic about further evolving our railway product offerings and market share in that market. We look forward to the Ciesse leadership team’s continued service of existing customers and collaboration with our U.S.-based leadership teams to find new opportunities in the international railway market.”
Ciesse is the latest Italian company to be added to the LCI portfolio. In early 2017, LCI acquired Italian manufacturer Sessa Klein S.p.A. Just a few months later, the company followed up with its $17 million acquisition of RV components manufacturer Metallarte S.r.l.
Earlier this year, LCI Italy also acquired Lavet s.r.l., a manufacturer of window blind systems.
By Anthony Harcourt Portfolio Manager, Bedel Financial Consulting Inc.
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