M&A Deal Summary

Lippert Components Acquires Duncan Systems

On August 18, 2014, Lippert Components acquired distribution company Duncan Systems from HKW for 18M USD

Acquisition Highlights
  • This is Lippert Components’ 3rd transaction in the Distribution sector.
  • This is Lippert Components’ 6th largest (disclosed) transaction.
  • This is Lippert Components’ 10th transaction in the United States.
  • This is Lippert Components’ 5th transaction in Indiana.

M&A Deal Summary

Date 2014-08-18
Target Duncan Systems
Sector Distribution
Buyer(s) Lippert Components
Sellers(s) HKW
Deal Type Add-on Acquisition
Deal Value 18M USD

Target

Duncan Systems

Elkhart, Indiana, United States
website
Duncan Systems is a distributor of replacement motorhome windshields; RV, heavy truck and specialty vehicle glass and windows.

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Buyer(S) 1

Buyer

Lippert Components

Elkhart, Indiana, United States

website


Category Company
Founded 1956
Sector Building Materials
DESCRIPTION
Lippert Components' corporate headquarters in Elkhart, Indiana.
Lippert Components' corporate headquarters in Elkhart, Indiana.

Lippert Components, Inc. is a tier-1 supplier serving the Manufactured Housing (MH), Recreational Vehicle (RV) and Cargo/Horse Trailer industries. LCI is an industry leader in a multitude of products including chassis, fabricated steel parts, entry doors, axles, leveling and stabilization equipment, suspension enhancement products, and accessories that enhance the RV lifestyle. Lippert Components, Inc. is based in Elkhart, Indiana.


DEAL STATS #
Overall 10 of 34
Sector (Distribution) 3 of 5
Type (Add-on Acquisition) 8 of 25
State (Indiana) 5 of 15
Country (United States) 10 of 27
Year (2014) 4 of 4
Size (of disclosed) 6 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-16 Actuant - RV business

United States

Actuant - RV business manufactures leveling systems, slideout mechanisms and steps, primarily for motorhome RVs, under the Power Gear® and Kwikee® brands.

Buy $36M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-19 EA Technologies

Elkhart, Indiana, United States

EA Technologies is a manufacturer of custom steel and aluminum parts and provider of electro-deposition ('e-coat') and powder coating services for RV, bus, medium-duty truck, automotive, recreational marine, specialty and utility trailer, and military applications.

Buy $9M

Seller(S) 1

SELLER

HKW

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1903
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hammond Kennedy Whitney & Company (HKW) is a private equity firm focused on making control investments in mid-sized, 'market leading' companies generating sales of $5 to $75 million. HKW looks for companies with low risk for technological obsolescence, defined growth strategies, and talented management who want to own equity. Target transaction situations include industry consolidations, corporate divestitures, generational changes in ownership, growth equity, management buy-outs and recapitalizations. HKW prefers North American based opportunities. HKW dates back to 1903, however the Firm transitioned from sole to institutional investors in 2001. The Firm has offices in Indianapolis and New York City.


DEAL STATS #
Overall 20 of 38
Sector (Distribution) 1 of 3
Type (Add-on Acquisition) 11 of 19
State (Indiana) 5 of 7
Country (United States) 19 of 30
Year (2014) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-09 Workhorse Rail

Pittsburgh, Pennsylvania, United States

Workhorse Rail LLC is a designer and supplier of freight car parts for the North American rail industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-10 Proact Services

Ludington, Michigan, United States

Proact Services Corp. is a provider of an innovative air and water treatment solutions customized to meet the requirements of specific environmental issues. Proact Services is based in Ludington, Michigan.

Buy -