LCI Industries said that its wholly owned subsidiary, Lippert Components Inc., has completed the acquisition of Veada Industries, a manufacturer and distributor of boat seating and marine accessories.
Veada, which has more than 50 years manufacturing and distribution experience, will further expand LCI’s marine seating capabilities and capacity, it said, and it represents the fifth acquisition in the marine sector by LCI since 2015.
“The addition of Veada’s unique and diverse product line will allow us to provide exceptional, customized product offerings to our OEM marine customers and further grow our marine business,” said Jason Lippert, president and CEO of LCI. “LCI, together with Veada’s exceptional leadership team, will leverage our combined resources and synergies to attack the capacity opportunities we face as the industry continues to experience record wholesale and retail demand. We believe LCI’s robust capabilities in marine will continue to be a differentiator for our customers.”
“Over the last 52 years, we have had the opportunity to deliver superior, innovative products to our customers, which has been supported by the commitment of our Veada team members and dedicated business partners and suppliers. We cannot thank each of them enough,” said Bob and Doug Steury, former owners of Veada. “As part of the LCI team, we are excited for the broader solutions we will be able to offer our customers, while at the same time, bringing quality seating capabilities to their portfolio.”