Plus   Neg

LCI Industries Unit To Acquire CURT Group - Quick Facts

LCI Industries (LCII) said its unit Lippert Components has agreed to acquire CURT Group, a manufacturer and distributor of branded towing products and truck accessories for the aftermarket, for approximately $340 million. CURT, headquartered in Eau Claire, Wisconsin, has a product portfolio comprised of thousands of SKUs across various product lines, including hitches, towing electricals, ball mounts, and cargo management.

LCI Industries expects the acquisition to be accretive to growth, profit margins, and earnings per share. For the 12-month period ended September 30, 2019, CURT recorded approximately $255 million of revenue.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles. Gilead Sciences Inc. (GILD) said Friday that the European Commission has granted conditional marketing authorization for Veklury or remdesivir as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. FedEx is asking NFL team Washington Redskins to change its name for its racist connotations. The delivery services company, which is a major sponsor for the team, made the suggestion following increasing pressure from its investors amid the ongoing protests against racial injustice and inequality that arose from the killing of African-American George Floyd.
Follow RTT