Lippert Components, a leading global manufacturer, will be buying out Furrion Holdings, a press release said.
Headquartered in Elkhart, Indiana, Lippert is a subsidiary of LCI Industries and is a supplier of manufacturing engineering components. With headquarters in Hong Kong and Elkhart, Furrion distributes products for recreational vehicles and speciality vehicles, the press release said.
"We are very excited to welcome Furrion to the Lippert family," Lippert President and CEO James Lippert said in the release. "Our organizations got to know each other very well during our partnership in which Lippert sold Furrion appliances and electronic products to OEMs and aftermarket customers throughout the United States and Canada."
The press release reports that Furrion's expected sales for 2021 are approximately $230 million.
“Furrion is extremely excited about this opportunity to join the Lippert family," Furrion CEO Darren Ho said in the release. “Over the life of the company, everything Furrion has accomplished has been due to its great team members and partners. As we move forward in taking Furrion to the next level, we could not have found a more complementary partner.”