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 .
Wed Jan 17, 2018
LCI Industries (LCII) announced that its wholly-owned subsidiary, Lippert Components Inc. (LCI), a supplier of components for RV OEMs and adjacent industries, and the related aftermarkets of those industries, has agreed to enter into an agreement to acquire Taylor Made Group LLC. Headquartered in Gloversville, New York, according to a press release from the Elkhart, Indiana, company.
Taylor Made is a suppliers to boat builders and the aftermarket, as well as a supplier to a host of other industrial end markets, the release states. The company operates 10 facilities, including two in Europe. Sales of the soon-to-be-acquired business for the 12 months ending December 2017 were approximately $150 million. The transaction is expected to close within two weeks, subject to the completion of negotiations and the execution of a mutually agreeable purchase agreement.
“LCI is one of the leading providers of windows for the RV towable industry, and with the addition of Taylor Made’s products, will be a leading supplier of marine and industrial market windshields as well,” LCI President Scott Mereness says. “Taylor Made has many characteristics we look for in acquisitions: great teams, great products with diversified markets, and a great opportunity for growth. With revenue composition of 20 percent aftermarket, 25 percent industrial, and 15 percent international, Taylor Made is a great balance of diversified revenues.”
“This is an exciting time in the marine industry,” Dennis Flint, chairman and CEO of Taylor Made, says, “and Taylor Made could not be more pleased to join with Lippert, a combination that brings together leading brands, manufacturing expertise, and global capabilities. We will work together to bring increased value and innovation to Lippert’s and Taylor Made’s mutual associates, team members, customers, and consumers.”
Once the acquisition is complete, a majority of the Taylor Made team will remain with LCI to lead the acquired business under the direction of Jason Falk, vice president of operations.
“Together, as one company,” Taylor Made President Jason Pajonk says, “Lippert and Taylor Made will have more resources to fully serve our respective customers, and will be very well positioned for long-term, sustained growth.”
“Our combined window, glass, and windshield team is talented and innovative, as well as experienced in managing growth,” Mereness says. “On the heels of another large acquisition last year, Taylor Made will be LCI’s largest acquisition in the last 22 years and is representative of our strategy of quickly assembling a portfolio of companies and products that will help us become a major contributor to marine component designs and solutions. We expect to leverage our purchasing, sales, distribution, and administrative capabilities to improve the profitability of this business, and we expect this acquisition to be immediately accretive to LCI’s earnings.”