ELKHART — Lippert Components acquired another Elkhart-based manufacturer for $40 million, the largest such acquisition for the company in the past 20 years.
LCI, a supplier of components to RV, marine and other manufacturers, purchased Lexington LLC, a manufacturer of seating solutions to the marine, RV, transportation, medical and office furniture industries, according to a press release.
LCI purchased Lexington for $40 million and anticipates year-end 2017 sales from Lexington of approximately $60 million.
"We are excited to add Lexington's business and employees to our growing portfolio of furniture solutions for the marine, RV and adjacent industries," said LCI President Scott Mereness. "LCI is the leading provider of furniture solutions for the RV towable industry, and with the addition of Lexington's high quality products, design and manufacturing teams, and strong customer relationships, the leading supplier of pontoon furniture as well."
Jeff Wysong, president of Lexington, will remain with LCI to lead the acquired business under the direction of Ryan Smith, vice president of Lippert Interiors.