Lippert today said that its subsidiary, Furrion LLC, has acquired the business assets of Way Interglobal, a former competitor producing appliances and electronics for the RV industry. The announcement was made by LCI Industries, Lippert’s parent company.
The deal includes Way’s Everchill and Greystone brands, which are the divisions that serve the RV industry, but it does not include Way’s current power generator assets and operations.
Financial terms of the acquisition were not disclosed.
The acquisition gives Lippert additional North American R&D capabilities alongside its Hong Kong and Arizona R&D teams in the appliance and HVAC space. It also gives Lippert a combined 1.6 million square feet in appliance warehousing space. Way just moved into a new 800,000-square-foot warehousing, showroom, and office building in Elkhart, Indiana, which combined multiple company facilities.
Lippert said the Way brand will go away after the acquisition is complete, but the Everchill and Greystone brand names will live on as part of Lippert’s portfolio of appliance offerings.
“With the addition of Way Interglobal and its associated brands to our core lineup of products, Lippert has now become one of the largest and most innovative appliance suppliers in the RV Industry,” said Ryan Smith, group president of Lippert’s North American OEM businesses. “Lippert will continue to push forward with innovation in this space with our combined resources, developing the products and solutions that our industry needs as we closely follow the ongoing trends of our markets.”
Way Interglobal was founded in 2009 by Wayne Kaylor, whose family had been in the RV industry – though not on the supply side – for decades. The company started out importing products from other overseas customers and then selling them here, but quickly evolved into manufacturing its own product lines.