{"id":405383,"date":"2020-12-23T17:22:21","date_gmt":"2020-12-23T22:22:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=405383"},"modified":"2020-12-23T17:22:21","modified_gmt":"2020-12-23T22:22:21","slug":"lippert-components-subsidiary-completes-acquisition-of-veada-industries","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\/","title":{"rendered":"Lippert Components Subsidiary Completes Acquisition of Veada Industries"},"content":{"rendered":"

<\/p>\n

Lippert Components Subsidiary Completes Acquisition of <\/b>Veada Industries<\/b><\/p>\n

ELKHART, Ind.–(BUSINESS WIRE<\/a>)–
\nLCI Industries (NYSE: LCII) which, through its wholly-owned subsidiary, Lippert Components, Inc. (“LCI”), supplies a broad array of highly engineered components for the leading original equipment manufacturers (“OEMs”) in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced that it has acquired Veada Industries, Inc. (\u201cVeada\u201d), a manufacturer and distributor of boat seating and marine accessories.\n<\/p>\n

\nWith over 50 years of manufacturing and distribution experience, Veada, located in New Paris, Indiana, specializes in delivering quality and affordable marine seating. Veada will further expand LCI\u2019s marine seating capabilities and capacity, representing the fifth acquisition in the marine sector by LCI since 2015.\n<\/p>\n

\n\u201cThe addition of Veada\u2019s 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.\u201d said Jason Lippert, President & CEO of LCI. Continued Lippert, \u201cLCI, together with Veada\u2019s 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\u2019s robust capabilities in marine will continue to be a differentiator for our customers.\u201d\n<\/p>\n

\n\u201cOver 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,\u201d commented Bob and Doug Steury, former owners of Veada. \u201cAs 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.\u201d\n<\/p>\n

\n\u201cEveryone at LCI is thrilled to incorporate the industry and product knowledge that Veada\u2019s team will bring to the LCI family. Veada\u2019s strong reputation for quality marine seating will allow LCI to further enhance our OEM product offering, customer service, and consumer experience,\u201d said Ryan Smith, Group President of North America for LCI.\n<\/p>\n

About LCI Industries<\/b><\/p>\n

\nFrom over 90 manufacturing and distribution facilities located throughout North America and Europe, LCI Industries, through its wholly-owned subsidiary, LCI, supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting primarily of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries primarily by selling to retail dealers, wholesale distributors, and service centers. LCI’s products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; and other accessories. Additional information about LCI and its products can be found at www.lci1.com<\/a>.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains certain “forward-looking statements” with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company’s common stock, the impact of legal proceedings, and other matters. Statements in this press release that are not historical facts are “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.\n<\/p>\n

\nForward-looking statements, including, without limitation, those relating to our future business prospects, net sales, expenses and income (loss), capital expenditures, tax rate, cash flow, financial condition, liquidity, consumer demand, integration of acquisitions, R&D investments, and resumption or suspension of normal operations, whenever they occur in this press release are necessarily estimates reflecting the best judgment of the Company’s senior management at the time such statements were made. There are a number of factors, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors include, in addition to other matters described in this press release, the impacts of COVID-19, or other future pandemics, on the global economy and on the Company’s customers, suppliers, employees, business and cash flows, pricing pressures due to domestic and foreign competition, costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace of and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, and in the Company’s subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. The Company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201223005571\/en\/<\/a><\/span><\/p>\n

Contact:<\/b> Brian M. Hall, CFO
\n
Phone:<\/b> (574) 535-1125
\n
E Mail: <\/b>LCII@lci1.com<\/a><\/p>\n

KEYWORDS:<\/b> Indiana United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Engineering Automotive Automotive Manufacturing Manufacturing Performance & Special Interest Other Manufacturing<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Lippert Components Subsidiary Completes Acquisition of Veada Industries ELKHART, Ind.–(BUSINESS WIRE)– LCI Industries (NYSE: LCII) which, through its wholly-owned subsidiary, Lippert Components, Inc. (“LCI”), supplies a broad array of highly engineered components for the leading original equipment manufacturers (“OEMs”) in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced that it has acquired Veada Industries, Inc. (\u201cVeada\u201d), a manufacturer and distributor of boat seating and marine accessories. With over 50 years of manufacturing and distribution experience, Veada, located in New Paris, Indiana, specializes in delivering quality and affordable marine seating. Veada will further expand LCI\u2019s marine seating capabilities and capacity, representing the fifth acquisition in the marine sector by LCI since 2015. \u201cThe addition … <\/p>\n

Continue reading “Lippert Components Subsidiary Completes Acquisition of Veada Industries”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-405383","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLippert Components Subsidiary Completes Acquisition of Veada Industries - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lippert Components Subsidiary Completes Acquisition of Veada Industries - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Lippert Components Subsidiary Completes Acquisition of Veada Industries ELKHART, Ind.–(BUSINESS WIRE)– LCI Industries (NYSE: LCII) which, through its wholly-owned subsidiary, Lippert Components, Inc. (“LCI”), supplies a broad array of highly engineered components for the leading original equipment manufacturers (“OEMs”) in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced that it has acquired Veada Industries, Inc. (\u201cVeada\u201d), a manufacturer and distributor of boat seating and marine accessories. With over 50 years of manufacturing and distribution experience, Veada, located in New Paris, Indiana, specializes in delivering quality and affordable marine seating. Veada will further expand LCI\u2019s marine seating capabilities and capacity, representing the fifth acquisition in the marine sector by LCI since 2015. \u201cThe addition … Continue reading "Lippert Components Subsidiary Completes Acquisition of Veada Industries"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-23T22:22:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201223005571r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Lippert Components Subsidiary Completes Acquisition of Veada Industries\",\"datePublished\":\"2020-12-23T22:22:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\\\/\"},\"wordCount\":1144,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20201223005571r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lippert-components-subsidiary-completes-acquisition-of-veada-industries\\\/\",\"name\":\"Lippert Components Subsidiary Completes Acquisition of Veada Industries - 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