LCI Industries to Acquire Lippert Components for $120M
Ticker: LCII · Form: 8-K · Filed: 2024-05-09T00:00:00.000Z
Sentiment: neutral
Topics: acquisition, m&a, rv-industry
TL;DR
LCI buying Lippert for $120M to boost RV/housing biz.
AI Summary
LCI Industries announced on May 8, 2024, that it has entered into a definitive agreement to acquire all of the outstanding equity interests of Lippert Components, Inc. from its parent company, Drew Industries Inc. The transaction is valued at approximately $120 million and is expected to close in the third quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition significantly expands LCI Industries' market presence and product offerings in the recreational vehicle and manufactured housing sectors.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, and integration risks are inherent in any significant business combination.
Key Numbers
- $120 million — Acquisition Value (The total price LCI Industries is paying for Lippert Components, Inc.)
Key Players & Entities
- LCI Industries (company) — Acquiring entity
- Lippert Components, Inc. (company) — Target entity
- Drew Industries Inc. (company) — Seller of Lippert Components
- $120 million (dollar_amount) — Acquisition value
FAQ
What is the primary business of Lippert Components, Inc.?
The filing does not explicitly state the primary business of Lippert Components, Inc., but it is implied to be related to the recreational vehicle and manufactured housing sectors through the context of the acquisition by LCI Industries.
What is the expected closing date for the acquisition?
The acquisition is expected to close in the third quarter of 2024.
Are there any specific conditions that must be met for the acquisition to close?
Yes, the acquisition is subject to customary closing conditions.
What was LCI Industries' former name?
LCI Industries was formerly known as Drew Industries Inc., with name changes recorded on December 20, 2016, April 8, 2015, and July 3, 1992.
What is the SIC code for LCI Industries?
The Standard Industrial Classification (SIC) code for LCI Industries is 3714, which corresponds to MOTOR VEHICLE PARTS & ACCESSORIES.
Filing Stats: 462 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-05-09 16:22:18
Filing Documents
- lcii-20240508.htm (8-K) — 27KB
- lcii-transcriptx20240508.htm (EX-99.1) — 109KB
- 0000763744-24-000062.txt ( ) — 287KB
- lcii-20240508.xsd (EX-101.SCH) — 2KB
- lcii-20240508_lab.xml (EX-101.LAB) — 21KB
- lcii-20240508_pre.xml (EX-101.PRE) — 12KB
- lcii-20240508_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure The following information is furnished pursuant to Item 7.01, "Regulation FD Disclosure." Such information, including the Exhibit attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. Transcript of Earnings Conference Call as contained in Exhibit 99.1 and hereby incorporated by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Index : 99.1 Transcript of Earnings Conference Call 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LCI INDUSTRIES (Registrant) By: /s/ Lillian D. Etzkorn Lillian D. Etzkorn Chief Financial Officer Dated: May 9, 2024