LCI Industries, a supplier of components for OEMs in the recreation and transportation markets completed the acquisition of CURT Group for an estimated $340 million.
CURT, headquartered in Eau Claire, Wisconsin, manufacturers and distributes branded aftermarket towing products and truck accessories for the RV, automotive, marine and other related industries. CURT maintains a robust product portfolio comprised of thousands of SKUs across various product lines, including hitches, towing electrical components, ball mounts, and cargo management. CURT brands include CURT, Aries, Luverne, Retrac, and UWS.
Lippert funded the purchase price through a combination of available cash, borrowings under its revolving credit facility, and an incremental term loan of $300 million under its amended credit agreement.