Recreational vehicle and manufactured housing supplier Drew Industries Inc. today (June 16) announced that its wholly-owned subsidiary Lippert Components Inc. completed the acquisition of Kaysville, Utah-based Happijac Co. for $29.5 million.
White Plains N.Y.-based Drew said that Happijac, which manufactures a patented bed lift system and other RV components, had annual sales in excess of $12 million in 2005.
Happijac’s management will continue to operate the business at its existing 65,000-square-foot factory located near Salt Lake City, which Lippert has leased.
Drew, also parent to Arlington, Texas-based supplier Kinro, said Happijac’s bed lift system is targeted at the growing toy hauler market, allowing beds to be raised to free up the on-board garage area.
“We are very excited about acquiring Happijac and adding their innovative products to our ever-growing RV lineup,” said Leigh J. Abrams, president and CEO for Drew, also parent to Arlington, Texas-based supplier Kinro. “Happijac’s products, management capabilities and creativity will enable us to participate in the growth of the toy hauler market.”