Drew Industries, Inc. (DW) has announced that its wholly-owned subsidiary, Lippert Components, Inc. (LCI), has acquired the recreational vehicle (RV) business of Actuant Corporation for $33.5 million, according to marketwatch.com. The manufacturer of leveling systems, slideout mechanisms and steps primarily for the RV business under the Power Gear® and Kwikee® brands, saw sales for the twelve months ending May 31, 2014 of $28 million. With a portfolio of over 80 patents and patent applications, Drew’s Chief Executive Officer Jason Lippert says, “The addition of these patents to our portfolio expands our product development potential, which we believe will lead to better overall products for the RV industry. We expect to leverage our extensive manufacturing, purchasing, distribution and administrative capabilities to improve the profitability of this business, and we expect this acquisition to be immediately accretive to Drew’s earnings.” MHProNews knows Drew is based in Elkhart, Indiana, producing components for the manufactured housing and RV industries. ##
