Lippert Components Signs Agreement to Acquire
CURT Group
LCI Industries announced that its wholly-owned subsidiary,
Lippert Components, Inc., has entered into a definitive
agreement to acquire CURT Group, a leading manufacturer
and distributor of branded towing products and truck
accessories for the aftermarket for approximately $340
million. The transaction is expected to close before the end
of 2019, subject to customary closing conditions, including
regulatory approval.
New Smartphone-Ready Vehicle / Trailer Scale
with TowSense™ Technology
CURT introduced a Bluetooth-enabled, smartphone-
compatible mobile towing scale called BetterWeigh™ that
plugs into your vehicle diagnostic port.
CURT Group, supplier of a complete line of towing products
and the leading manufacturer of USA-made custom-fit trailer
hitches, has introduced a Bluetooth-enabled, smartphone-
compatible mobile towing scale called BetterWeigh™. This
innovative, compact device plugs into your vehicle diagnostic
port (OBD-II) and measures the real-time weight of your
vehicle and trailer, cargo/payload, tongue weight, pin weight,
weight distribution and trailer brake gain, displaying them right
on your Apple or Android phone.
The patented BetterWeigh™ mobile towing scale #51701 is
powered by TowSense™ technology, an accelerometer that
measures changes in force and acceleration to provide a live
readout of the weights associated with towing. This allows
for greater convenience and safer towing by eliminating the
guesswork in your trailer setup.
BetterWeigh™ also has virtually no installation requirements.
It simply plugs into the OBD-II port, below the steering wheel,
and wirelessly connects to your smartphone with Bluetooth
and a free, downloadable app.
BetterWeigh™ works for bumper pull towing setups,
gooseneck towing and 5th wheel towing. The weight
distribution feature streamlines the WD hitch setup process
and adjusts more accurately. BetterWeigh™ is also ideal
when loading your vehicle with cargo, supplies or equipment,
giving you a live look at the vehicle’s weight, as cargo is added.
For more information, please visit
www.curtgroup.com
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“With a strong reputation for product innovation, engineering
and brand excellence, we look forward to welcoming CURT
President Rock Lambert and his team to the LCI family.
Culturally, CURT is a strong fit, with a deep focus on delivering
innovative products and an unwavering commitment to quality
and superior customer service. Its highly complementary
portfolio, combined with its strong brands and extensive
distribution network, will significantly expand our addressable
market. With a track record of delivering remarkable financial
performance and strong cash flow generation, we believe
that the addition of CURT will further advance our long-
term growth strategy to bring our core competencies to
new, attractive markets and diversify our business to drive
outperformance throughout the cycle,” said Jason Lippert,
CEO and President of LCI.
CURT, headquartered in Eau Claire, WI, maintains a robust
product portfolio comprised of thousands of SKUs across
various product lines, including hitches, towing electricals, ball
mounts, and cargo management. CURT boasts a significant
market position, owning and operating a stable of leading
brands, including CURT, Aries, Luverne, Retrac and UWS.
Leveraging a multi-channel model, CURT serves customers
across e-commerce, direct-to-installer and distribution
channels. In addition, CURT has a wide distribution network,
with centers strategically located throughout the U.S. to serve
its North American customers. For the 12-month period
ended September 30, 2019, CURT delivered approximately
$255 million of revenue.
“With its proven track record of building high-quality
products and successfully sourcing and integrating companies,
LCI is an ideal partner for us. Both LCI and CURT have
strong reputations and positions fostered through a culture
of innovation, history of high-quality products, customer
satisfaction, retention and manufacturing excellence. We
look forward to joining the team and further positioning the
business for long-term success,” said Rock Lambert, CEO of
CURT Group..
To learn more about this acquisition, please visit
www.lcil.com.
NATDA Magazine www.natda.org