The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Mon Jul 3, 2017
ELKHART, Indiana - LCI Industries, a supplier of components for the leading original equipment manufacturers of recreational vehicles and adjacent industries, and the related aftermarkets of those industries, has announced that its wholly-owned subsidiary, Lippert Components, Inc., has acquired Metallarte S.r.l., a Siena, Italy-based manufacturer of entry and compartment doors, and its subsidiary, RV Doors, S.r.l., a Venice, Italy-based manufacturer of driver-side doors, to the European caravan (RV) market. Consolidated sales of the acquired business for 2016 were about $12 million.
The purchase price was $16.8 million, which was paid at closing from available cash and borrowings under the company's $200 million line of credit, plus contingent consideration based on future sales.
"Metallarte is a wonderful and quickly growing European caravan components supplier," LCI President Scott Mereness says. "In 2016, we acquired Italian-based Project 2000 S.r.l., a manufacturer of motorized entry steps, bed lifts and RV accessories, as a foundation for LCI in the European RV market. We followed Project 2000 with another Italian-based company, train window manufacturer Sessa Klein S.p.A. Metallarte. is our third European acquisition in 13 months. We believe this transaction further accelerates the opportunities to expand LCI's product offerings for the European RV market. We welcome Metallarte to LCI, and look forward to working closely with their team to grow their business in Europe. We expect this acquisition to be immediately accretive to LCI's earnings.
"We continue to build on our international growth opportunities. Our strong balance sheet combined with excellent operating cash flow allows us to continue to significantly invest in future growth. The European RV market produces 170,000 units annually and we look to expand our presence as a key supplier to this market."