Lippert Components subsidiary LCI Italy acquires rail interior products manufacturer Ciesse
Elkhart, Indiana - August 30, 2019 - LCI Industries (NYSE: LCII), which, through its wholly-owned subsidiary, Lippert Components, Inc. (“LCI”), supplies a broad array of highly engineered components for the leading original equipment manufacturers (“OEMs”) of leisure vehicles and mobile transportation, and the related aftermarkets of those industries, today announced that its subsidiary, LCI Italy S.r.l. (“LCI”), has acquired Ciesse S.p.A. (“Ciesse”), a supplier of railway interior products and systems, headquartered in Rignano sull’Arno, Italy, effective August 31, 2019 (the “Effective Date”). Ciesse had trailing twelve-month sales of approximately €22.5 million through June 2019. LCI welcomes Ciesse’s strong management team to the LCI family and looks forward to better serving its customers with its expanded railway product offerings.
In 2017, LCI acquired Varese, Italy-based manufacturer Sessa Klein S.p.A., expanding the Company’s operational capabilities to include highly engineered side window systems for both high speed and commuter rail. Ciesse’s expansive railway interior products and systems further expands the Company’s complete railway solutions division and will serve to create greater synergies among rail customers.
“The addition of Ciesse’s products, leadership, and customer base allows us to continue our growth and pursuit of obtaining a more complete suite of components and solutions for the global rail industries,” said Jason Lippert, CEO and President of LCI. Continued Lippert, “As the overseas rail market is beginning to see some real growth, we are enthusiastic about further evolving our railway product offerings and market share in that market. We look forward to the Ciesse leadership team’s continued service of existing customers and collaboration with our U.S.-based leadership teams to find new opportunities in the international railway market.”
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