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.