Elkhart-based LCI Industries (NYSE: LCII) is continuing its growth through acquisition strategy in 2018. The company has acquired Italy-based manufacturer STLA s.r.l. in a $15.4 million deal.
STLA manufactures bed-lifts and other recreational vehicle components for the European caravan market. The company’s sales in 2017 totaled $21 million and LCI President Scott Mereness says the acquisition leaves LCI well-positioned to take advantage of other investment opportunities.
"We believe this transaction accelerates the opportunities to expand LCI’s product offerings for the European RV market,” said Mereness. "Our strong balance sheet combined with solid operating cash flow positions the company to invest in future growth. With over five billion dollars of incremental addressable market, we continue to strategically position the company to take advantage of that runway."
This is LCI’s third acquisition this year. The company previously announced the acquisitions of New York-based marine and industrial supplier Taylor Made Group LLC and California-based window manufacturer Hehr International Inc.