UK equipment maker will be LCI’s sixth purchase in the marine sector marking the company’s continued expansion into the global boating business
The board of directors of Lewmar Marine have agreed to the terms of a cash offer from US-based Lippert Components, a subsidiary of LCI Industries, which produces a range of engineered components for recreational vehicles (RVs), boats and commercial transportation vehicles.
Lewmar exhibiting at METSTRADE. In 2018, the company generated 54% of its sales In Europe and the UK and another 37% in North America.
LCI has received pledges from Lewmar shareholders representing nearly 81% of existing shares to vote in favour of the acquisition, pursuant to final approval by the company’s shareholders and the Scottish Court. LCI’s initial cash offer is approximately £33.286m, or about £1.44 per share, and allows for additional consideration up to £2.5m, or approximately 10.8p per share. Read on.