EA Technologies, a manufacturer of custom steel and aluminum parts and provider of electro-deposition (e-coat) and power coating services used in the manufactured housing industry, has been acquired by Lippert Components, Inc., a wholly-owned subsidiary of Drew Industries, Inc.  Both companies are located in Elkhart, Indiana.

PR Newswire tells MHProNews that Drew’s President Scott Mereness said, “We believe the EA Technologies relationships in the bus, automotive, medium-duty truck, and trailer markets will help accelerate our industry diversification and product innovation, which are part of our long-term plan for strategic growth. This acquisition also provides us with the facility and equipment capacity, as well as the additional personnel, to expand our fabricating and coating operations.”

The purchase price was $9.4 million, of which $6.8 million was paid in the fourth quarter of 2014, with the balance paid at closing, from borrowings under Drew’s $75 million line of credit.

From its 37 factories located throughout the United States, Drew Industries, supplies a broad array of components for the leading manufacturers of recreational vehicles as well as manufactured and modular housing. ##

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(Graphic Credit: Drew Industries)

 

Article Submitted by Sandra Lane to – Daily Business News- MHProNews.