With an eye on continued growth, RV supplier Drew Industries Inc. announced that its subsidiary, Lippert Components Inc., has purchased one company and is in the process of acquiring another.
The South Bend (Ind.) Tribune reported that Lippert Components already has completed its purchase of Innovative Design Solutions for $36 million. IDS, which employs 100 people, is a Troy, Mich.-based designer, developer and manufacturer of electronic systems with a wide variety of RV applications.
Lippert also said it has reached an agreement in principle to acquire certain assets of Star Design of Elkhart for $12 million.
“Growth is part of the reason for the purchase,” said Kirk Sobecki, operations controller for Lippert Components via email. “We also like the companies for the strong management teams and the products that they bring to the Lippert family of products.”
Lippert employs about 5,000 people in northern Indiana.
In 2013 Lippert relocated its RV thermoforming plastic production from Texas to a location in Elkhart that’s large enough to accommodate expected growth, said Scott Mereness, Drew’s president, in a release. “We have continued to grow our RV and specialty markets plastics business since then, and we are excited to boost further growth with the acquisition of Star Design.”
Star Design will maintain its current Elkhart site, Sobecki said.
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