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LCI Industries, through its wholly-owned subsidiary Lippert Components Inc., Monday (June 4) announced that it has acquired STLA s.r.l, a Pontedera, Italy-based manufacturer of bed-lifts and other recreational vehicle components for the European RV market. According to a news release, STLA sales for 2017 were approximately $21 million.

The purchase price was $15.4 million, which was paid at closing. After funding the acquisition, LCI remains well-positioned to take advantage of other investment opportunities.

“We believe this transaction accelerates the opportunities to expand LCI’s product offerings for the European RV market,” said LCI’s President Scott Mereness. “We welcome STLA to LCI, and look forward to working closely with its team to grow its business in Europe.”

“This is our third acquisition in 2018,” continued Mereness. “Our strong balance sheet combined with solid operating cash flow positions the company to invest in future growth. With over five billion dollars of incremental addressable market, we continue to strategically position the company to take advantage of that runway.”