LCI expects to enter into an agreement to acquire Taylor Made Group. Headquartered in Gloversville, N.Y., Taylor Made is one of the recreational marine industry’s largest suppliers to boat builders and the aftermarket, as well as a key supplier to a host of other industrial end markets.
Taylor Made operates out of 10 facilities, including two in Europe. Sales of the soon-to-be-acquired business for the 12 months ending December 2017 were approximately $150 million. The transaction is expected to close within two weeks.
“LCI is one of the leading providers of windows for the RV towable industry, and with the addition of Taylor Made’s products, will be a leading supplier of marine and industrial market windshields as well,” said Jason Lippert, LCI’s CEO. “Taylor Made has many characteristics we look for in acquisitions: great teams, great products with diversified markets, and a great opportunity for growth. With revenue composition of 20 percent aftermarket, 25 percent industrial, and 15 percent international, Taylor Made is a great balance of diversified revenues.”
“This is an exciting time in the marine industry and Taylor Made could not be more pleased to join with Lippert, a combination that brings together leading brands, manufacturing expertise, and global capabilities. We will work together to bring increased value and innovation to Lippert’s and Taylor Made’s mutual associates, team members, customers, and consumers,” said Dennis Flint, chairman and CEO of Taylor Made.
Once the acquisition is complete, a majority of the Taylor Made team will remain with LCI to lead the acquired business under the direction of Jason Falk, VP of operations.