Friday, June 16, 2006
HAPPIJAC ACQUIRED BY DREW INDUSTRIES
RV Business
Friday, June 16, 2006
Recreational vehicle and manufactured housing supplier Drew Industries Inc. today (June 16) announced that its wholly-owned subsidiary Lippert Components Inc. completed the acquisition of Kaysville, Utah-based Happijac Co. for $29.5 million.
White Plains N.Y.-based Drew said that Happijac, which manufactures a patented bed lift system and other RV components, had annual sales in excess of $12 million in 2005.
Happijac's management will continue to operate the business at its existing 65,000-square-foot factory located near Salt Lake City, which Lippert has leased.
Drew, also parent to Arlington, Texas-based supplier Kinro, said Happijac’s bed lift system is targeted at the growing toy hauler market, allowing beds to be raised to free up the on-board garage area.
"We are very excited about acquiring Happijac and adding their innovative products to our ever-growing RV lineup," said Leigh J. Abrams, president and CEO for Drew, also parent to Arlington, Texas-based supplier Kinro. "Happijac's products, management capabilities and creativity will enable us to participate in the growth of the toy hauler market.”
Friday, June 16, 2006
Recreational vehicle and manufactured housing supplier Drew Industries Inc. today (June 16) announced that its wholly-owned subsidiary Lippert Components Inc. completed the acquisition of Kaysville, Utah-based Happijac Co. for $29.5 million.
White Plains N.Y.-based Drew said that Happijac, which manufactures a patented bed lift system and other RV components, had annual sales in excess of $12 million in 2005.
Happijac's management will continue to operate the business at its existing 65,000-square-foot factory located near Salt Lake City, which Lippert has leased.
Drew, also parent to Arlington, Texas-based supplier Kinro, said Happijac’s bed lift system is targeted at the growing toy hauler market, allowing beds to be raised to free up the on-board garage area.
"We are very excited about acquiring Happijac and adding their innovative products to our ever-growing RV lineup," said Leigh J. Abrams, president and CEO for Drew, also parent to Arlington, Texas-based supplier Kinro. "Happijac's products, management capabilities and creativity will enable us to participate in the growth of the toy hauler market.”
