News

RV and leisure vehicle industry expert Lippert has entered into a definitive agreement to acquire Furrion Holdings Limited – a leading distributor of appliances to OEMs and aftermarket customers in the RV and trailer sectors. Furrion’s forecasted 2021 sales are approximately US $230 million. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions, including regulatory approval.

“We are very excited to welcome Furrion to the Lippert family,” said Jason Lippert, president and CEO of Lippert. “Our organizations got to know each other very well during our partnership in which Lippert sold Furrion appliances and electronic products to OEMs and aftermarket customers throughout the United States and Canada. Furrion has a strong management team led by CEO Darren Ho and chief technology officer Steve Bell, along with Furrion’s innovative R&D and engineering teams in Hong Kong, the United States, and mainland China. I believe the two companies can do great things together, and I look forward to seeing how we can innovate products to transform the industries we serve.”

With headquarters in Hong Kong, China, and Elkhart, Indiana, Furrion has become a premier supplier of appliance, appliance accessories, and audio-visual products since entering the RV industry in 2007 and is best known for innovating new appliance products and introducing state-of-the-art camera technology. Furrion’s robust catalogue of electronics and appliances complement Lippert’s OEM product roadmap by adding audio-visual components, observation camera systems, a full range of kitchen appliances, and energy and power management systems that will allow Lippert to offer an even-more widespread range of products to the industry. In addition to supplying OEMs, Furrion has a strong aftermarket business, both online and in-store, contributing over 30 per cent of its revenues, and Furrion's products are featured in many RV dealerships across the United States. Lippert’s plan is to use its existing relationships to expand Furrion’s distribution of products into its sales channels, including RV, marine, Europe, and adjacent industries, as well as the aftermarkets of those industries.

Lippert is celebrating its 65^th anniversary this year – read our special feature about the company in issue three of Camping Trade World.