LCI Industries’ (LCII) Lippert Earn Way Interglobal Network | Rare Techy

Rare TechyNovember 15, 2022

0 2 minutes read

[ad_1]

News and research before you hear it on CNBC and more. Request your free 1-week trial at StreetInsider Premium here.

LCI Industries (NYSE: LCII) through its wholly owned subsidiary, Lippert Components, Inc. Markets, and subsequent markets in those industries, announced today that its subsidiary, Furrion LLC, has acquired all of the business assets of Way Interglobal Network LLC (“Way”). Way, based in Elkhart, Indiana, designs, develops and supplies innovative hardware and electronics to the RV Industry. The sale does not include Way’s power generation assets or operations.

The acquisition of Way and its Everchill and Greystone brands will complement Lippert’s robust Furrion line of RV accessories and electronics. Acquired in 2021, Furrion is a leading brand in the RV and outdoor living space, manufacturing a variety of products from kitchen appliances, heating and cooling, vehicle surveillance systems and outdoor television. The acquisition of Way gives Lippert additional North American R&D capabilities alongside its Hong Kong and Arizona R&D teams in the appliance and HVAC space. The acquisition gives Lippert 1.6 million square feet in warehouse space. The Way token does not carry forward after purchase; however, the Everchill and Greystone brands will be added to Lippert’s hardware portfolio.

“With the addition of Way Interglobal and its affiliate brands to our product lineup, Lippert has become one of the largest and most innovative equipment suppliers in the RV Industry,” said Ryan Smith, Group President. of Lippert’s North American OEM businesses. Smith continued, “Lippert will continue to advance and innovate in this space with our combined resources, developing the products and solutions our industry needs as we pursue and our market conditions.”

For LCI Industries

LCI Industries, through its wholly owned subsidiary, Lippert, manufacturers and supplies, domestically and internationally, a comprehensive range of highly engineered components for leading OEMs in the entertainment product markets and transportation, mainly recreational and commercial vehicles, including buses. ; a vehicle for transporting vehicles, livestock, tools, and other cargo; truck; boat; train; building; and apartments. The Company also distributes mechanical components to markets related to these industries, by selling to wholesalers, wholesalers, and service centers. Lippert products include steel chassis and related components; axles and suspension solutions; mitigation measures and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic static and balancing systems; entry, trunk, patio, and patio doors; furniture and bedding; electric and manual access steps; awnings and awning accessories; pulled fruit; truck equipment; electrical components; tools; gas air; television and sound systems; tankless water heater; and other equipment. More information about Lippert and its products can be found at www.lippert.com.