Lippert Components acquires Chicago-based seating company
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Elkhart-based Lippert Components Inc. is adding to its portfolio with the acquisition of Freedman Seating Co., headquartered in Chicago. Financial terms of the deal are not being disclosed.
A family-owned company founded in 1894, Freedman manufactures seating products for a variety of transportation markets, including bus, rail, marine, delivery truck, specialty and commercial vehicles.
Lippert said the acquisition builds on its efforts to grow its presence in the bus and transportation vehicle markets. The company has manufactured window and glass products to the industries for over a decade and earlier this year completed the acquisition of Trans Air, which makes climate control systems for the commercial bus industry.
“Between the two companies, we have almost 200 years combined of family leadership and there’s not too many organizations that can claim that,” Ryan Smith, group president of Lippert’s North American OEM operations,” said in a news release. “We’re excited to add Freedman’s seating line to our growing portfolio of bus and transportation vehicle products and with our combined leadership teams we will be able to offer a better-than-ever customer experience to our partners in these industries.”
Lippert said Freedman’s seating operations will continue to be based out of Chicago for the foreseeable future. Freedman employs about 700 people, and the acquisition brings Lippert’s total employee headcount to more than 13,000.
Freedman CEO Craig Freedman said the company is excited for its future with Lippert.
“They’ve expressed admiration for what we’ve built and want to help us grow it in ways that honor our mission and values,” he said. “This acquisition gives us the opportunity to build on our legacy, expand our reach, and invest even more in our team.”
Lippert Components, a subsidiary of LCI Industries Inc., manufactures a wide variety of products for the RV, marine, towing, automotive, hospitality, and building products industries, among others.