Lippert Buys CURT

Lippert buys CURT.
   
Lippert Components, a wholly-owned subsidiary of LCI Industries, buys CURT Group for $340 million.
   
CURT Group is an engineering, manufacturing, marketing, and distribution company of towing products and truck accessories for every type of vehicle. It maintains a robust portfolio across a variety of product lines, including hitches, towing electricals, ball mounts, and cargo management. They own and operate a family of leading brands named CURT, Aries, Luverne, Retrac, and UWS. Serving customers through e-commerce, direct-to-installer channels, and a broad distribution network, with centers all over the United States.
   
This deal develops LCI’s expansion efforts, doubling the size of its aftermarket business and adding a complementary portfolio of towing and truck products. It also adds a large and loyal installed customer base. CURT brings a robust multi-channel distribution network, innovative product technologies, and advanced engineering, research, and development.
   
Jason Lippert of LCI said: ‘With a strong reputation for product innovation, engineering, and brand excellence, we look forward to welcoming CURT President Rock Lambert and his team to the LCI family. Culturally, CURT is a strong fit, with a deep focus on delivering innovative products and an unwavering commitment to quality and superior customer service. Its highly complementary portfolio, combined with its strong brands and extensive distribution network, will expand our addressable market. With a track record of delivering remarkable financial performance and strong cash flow generation, we believe that the addition of CURT will further advance our long-term growth strategy to bring our core competencies to new, attractive markets and diversify our business to drive performance throughout the cycle.’
   
Rock Lambert of CURT Group said: ‘With its proven track record of building high-quality products and successfully sourcing and integrating companies, LCI is an ideal partner for us. Both LCI and CURT have strong reputations and positions fostered through a culture of innovation, history of high-quality products, customer satisfaction and retention, and manufacturing excellence. We look forward to joining the team and further positioning the business for long-term success,’
   
Faegre Baker Daniels served as legal advisor to LCI.

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