LCI Industries Acquires Freedman Seating Company

By Tamara Parker • Tuesday, April 29 15:21 • Permanent Link

Lippert Components, Inc., a subsidiary of LCI Industries, has recently announced the acquisition of Freedman Seating Company, a well-established Illinois-based manufacturer of transportation seating solutions. With a history dating back over 130 years, Freedman Seating has been a key player in providing seating solutions for various markets including bus, rail, marine, delivery truck, specialty, and commercial vehicles.

This acquisition marks a significant move for Lippert, as it continues to expand its presence in the transportation vehicle markets. Earlier this year, Lippert completed the acquisition of Trans Air, a leading manufacturer of climate control systems for the commercial bus industry, showcasing its commitment to diversification within the transportation sector.

Ryan Smith, the group president of Lippert's North American OEM operations, expressed enthusiasm about the acquisition, highlighting the combined 200 years of family leadership between the two companies. The addition of Freedman's seating line to Lippert's portfolio further strengthens its product offering in the transportation vehicle market, enhancing the overall customer experience for its partners in these industries.

Andrew Pocock, Lippert's EVP of Building and Transportation Products, echoed the sentiment, emphasizing the potential for an elevated customer experience through the combined product offerings resulting from this acquisition.

The CEO of Freedman Seating Company, Craig Freedman, expressed optimism about the future, stating that the acquisition provides an opportunity to build on the company's legacy, expand its reach, and invest further in its team.

LCI Industries, through its subsidiary Lippert, is a leading global supplier of engineered components to the outdoor recreation and transportation markets. This acquisition reflects Lippert's dedication to enhancing the customer experience and its continued efforts to establish a strong presence in the transportation industry. Following these announcements, the company's shares moved 1.3%, and are now trading at a price of $79.07. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.