Lippert Components has grown again, this time buying an Elkhart-based seating manufacturer for $40 million.
The company announced the purchase of Lexington LLC this week, according to the Elkhart Truth.
Lexington makes seating products for the marine, RV, transportation, medical, and office furniture industries. Lippert Components expects the purchase to pay immediate dividends, as they expect Lexington’s year-end sales to be around $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.”
Lexington president Jeff Wysong will remain with Lippert Components as a vice president under the Lippert Interiors brand. No word on if any jobs will be affected.
