Skip to main content

Lippert Acquires Furrion

1_Furrionlogo

Lippert has entered into an agreement to acquire Furrion, with the transaction expected to close in the third quarter, Furrion said in a statement.

The news comes on the heels of Lippert parent LCI Industries reporting a record second quarter in which it saw net sales surge 108 percent to $1.1 billion.

3_Furrion

“As we move forward in taking Furrion to the next level, we could not have found a more complementary partner,” said Furrion CEO Darren Ho.

Furrion’s range of products — electronics, appliances, camera systems, power distributors, off-grid energy solutions and more — supply OEMs and the aftermarket in the marine and RV segments, as well as specialty vehicles and other transit outfits. The company, which has headquarters in Elkhart, Ind., and Hong Kong, forecasts that 2021 net sales will be approximately $230 million.

Lippert said it plans to expand Furrion’s market share in the United States and abroad.

2_Furrion

“Furrion will … fit well into Lippert’s strategic global product road map, with opportunities to broaden its product offerings through existing Lippert relationships in these new markets for Furrion,” president and CEO Jason Lippert said. “We believe that the European and Australian markets are especially attractive.”

Added Lippert group president Ryan Smith: “The runway for our two companies is vast. We believe the estimated total addressable market for Furrion products to be over $1.5 billion in North America alone.”

Related

1_TRAVELIFT.COOP

Marine Travelift Launches Co-op Program

The company received its first student, a University of Wisconsin engineering major, in the seven-month paid co-op.

1_JULY4

Trade Only Today Returns Tuesday

The e-newsletter will not publish July 4 in observance of Independence Day. We wish everyone a safe holiday weekend.

1_ORR.FUNDS

ORR Announces Federally Funded Projects

The U.S. Economic Development Administration prioritized outdoor recreation for the first time

Norm#4

Ten Ways To Sell in a Tough Economy

These keys to successful selling can help you create customers who keep coming back, even when sales dip

1_ASA.BOARD

ASA Names New Board Members

The American Sportfishing Association filled two at-large seats and two regional seats on its board of directors.

1_EXEC.SEARCH

Dammrich, Hopkinson Partner With Marine Resources Recruitment

The industry veterans will help clients fill executive-suite, marine industry job openings around the world.

1_PULSE.PING.0630

DEALERS: How Was Business in the First Half of 2022?

With the second quarter coming to a close, was there parity between the budget and financial performance in the first six months? Take the Pulse Report survey here.

1_PMMPODCAST

Passagemaker Relaunches Podcast

Trawler Talk aims to connect with those who are interested in the cruising lifestyle, with episodes dropping every other week