The Lippert Components Inc. subsidiary of Drew Industries Inc. has agreed to purchase the business and certain assets of the towable RV chassis assembly division of Elkhart, Ind.-based Quality Frames Inc.
Terms of the transaction were not revealed and the deal is expected to be finalized in two weeks.
Drew plans to buy the inventory of Quality Frames’ chassis division and certain fixed assets used for building fifth-wheel and travel trailer chassis. The chassis division of Quality Frames had around $7 million in sales revenue during 2001.
The operations of the chassis assembly division of Quality Frames will be shifted to Lippert Component plants in Northern Indiana, which will have a positive impact on Lippert Components’ profit margins, according to Drew, a White Plains, N.Y.-based company.
“This acquisition brings a complementary customer base to our existing RV chassis operations,” said Leigh Abrams, president and CEO of Drew, an American Stock Exchange-listed company.
In addition to Goshen, Ind.-based Lippert Components, Drew owns RV doors and windows supplier Kinro Inc. which has operations in Elkhart, Goshen and Fontana, Calif.