Lippert Components Expands Lineup of Boat Add-ons
ELKHART, Ind. – Lippert Components Inc., a wholly-owned subsidiary of Elkhart-based LCI Industries (NYSE: LCII) has purchased the PWR-ARM brand and electric powered Bimini business assets of Michigan-based Schwintek Inc.
Terms of the deal were not disclosed.
The PWR-ARM is an electric-powered retractable sunshade for boats and pontoons. The companies say the aftermarket sunshade can be added to most deck boats.
The technology allows boat operators to get protection from the sun or lower it while going under a bridge by pressing a button.
“The addition of the PWR-ARM automatic Bimini to our growing offerings of sunshade solutions will allow LCI to continue to serve our customers with cutting-edge technology and transform the boating experience, making it easier and more enjoyable for boaters around the globe,” said Jason Lippert, chief executive officer and president of LCI.
Lippert is a manufacturer of systems and components for the RV, boating, and cargo trailer industries and it says there is a growing demand in the aftermarket segment to replace outdated manual sunshade systems.
“I am pleased to transition this product line to LCI which will continue to drive and support our plans for continued growth through innovation, quality products, and exceptional customer service,” Mike Schwindaman, president of Schwintek.
This is LCI’s second purchase of a retractable sunshade manufacturer in as many months. In October, LCI purchased Philadelphia-based Rodan Enterprises LLC, doing business as SureShade. The company specializes in telescoping sunshades for the marine industry.