Lippert Components agrees to acquire marine and industrial supplier Taylor Made Group, LLC

Elkhart, Indiana – LCI Industries (NYSE: LCII) today announced that its wholly-owned subsidiary, Lippert Components, Inc. (“LCI”), a supplier of components for the leading original equipment manufacturers (“OEMs”) of recreational vehicles (“RVs”) and adjacent industries, and the related aftermarkets of those industries, has agreed to enter into an agreement to acquire Taylor Made Group, LLC (“Taylor Made”). Headquartered in Gloversville, New York, Taylor Made is one of the recreational marine industry’s largest, most diversified suppliers to boat builders and the aftermarket, as well as a key supplier to a host of other industrial end markets. Taylor Made operates out of ten facilities, including two in Europe. Sales of the soon-to-be-acquired business for the twelve months ending December 2017 were approximately $150 million. The transaction is expected to close within two weeks; provided, however, that such closing is subject to the completion of negotiations and the execution of a mutually agreeable purchase agreement.

“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 LCI’s President Scott 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,” added Mereness.

“This is an exciting time in the marine industry and Taylor Made could not be more pleased to join with Lippert, a combination that brings together leading brands, manufacturing expertise, and global capabilities. We will work together to bring increased value and innovation to Lippert’s and Taylor Made’s mutual associates, team members, customers, and consumers,” said Dennis Flint, Chairman and CEO of Taylor Made.

Once the acquisition is complete, a majority of the Taylor Made team will remain with LCI to lead the acquired business under the direction of Jason Falk, Vice President of Operations. “Together, as one company, Lippert and Taylor Made will have more resources to fully serve our respective customers, and will be very well positioned for long-term, sustained growth,” said Jason Pajonk-Taylor, President of Taylor Made.

“Our combined window, glass, and windshield team is talented and innovative, as well as experienced in managing growth,” added Mereness. “On the heels of another large acquisition last year, Taylor Made will be LCI’s largest acquisition in the last 22 years, and is representative of our strategy of quickly assembling a portfolio of companies and products that will help us become a major contributor to marine component designs and solutions. We expect to leverage our purchasing, sales, distribution, and administrative capabilities to improve the profitability of this business, and we expect this acquisition to be immediately accretive to LCI’s earnings.”

About LCI Industries ^®

From over 90 manufacturing and distribution facilities located throughout North America and Europe, LCI Industries, through its wholly-owned subsidiary, LCI, supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting primarily of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries primarily by selling to retail dealers, wholesale distributors, and service centers. LCI's products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; and other accessories. Additional information about LCI and its products can be found at LCI1.com.

Lippert Components, Inc.
3501 County Road 6 East
Elkhart, IN 46514
Email: marcom@lci1.com