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Drew Industries Inc. through its subsidiary Lippert Components Inc., Goshen, Ind., has entered into an agreement to acquire Happijac Co., a supplier of patented bed lift systems for recreational vehicles.
White Plains, N.Y.-based Drew, also parent to industry supplier Kinro, expects closing of the acquisition within approximately 60 days.
Drew said Kaysville, Utah-based Happijac, which also manufactures slideout systems, tie-down systems and camper jacks, had annual sales in excess of $12 million in 2005.
Subsequent to the acquisition, Happijac’s owners intend to continue operating the company at their existing 74,000-square-foot factory located near Salt Lake City, which Lippert will lease.
Happijac recently obtained patents related to its bed lift systems used primarily in sport utility recreational vehicles (SURVs). The system allows beds to be raised to the ceiling when the “toys,” such as motorcycles, snowmobiles or four-wheelers, are being stored in the back of the trailer and then lowered to provide sleeping accommodations.
“Happijac’s sales have grown rapidly over the last several years, indicating increased market penetration for their products,” said Leigh J. Abrams, Drew president and CEO. “At the same time, the market for toy haulers continues to grow as more Americans take their ‘toys’ with them on the road. Happijac’s product line complements our existing RV products and will be a source of new revenue moving forward.”