Lewmar: A takeover bid for the British marine equipment manufacturer

Lippert Components will acquire Lewmar

The famous Lewmar brand of equipment for pleasure boating could change hands. A buyback offer should be promptly reviewed by management.

Lippert Components acquires Lewmar Marine

The American company Lippert Components announced on June 11, 2019 the filing of a takeover bid for the British specialist in fittings and recreational equipment Lewmar Marine. The proposal follows the commitment of 80.7% of Lewmar's shareholders consulted by the acquirer. The offer to purchase is £33.286m, or 143.65 pence per share and an additional margin of £2.5m is announced by Lippert Components. The shareholders and the Scottish Court will be consulted for final approval, in accordance with the law. Peter Tierney and his team should be kept at the helm of Lewmar.

American-British nautical synergy

Founded in 1946, the Lewmar brand no longer exists. Headquartered in Havant on the south coast of England, at the heart of the British boating industry, the company had a turnover of £55 million in 2018. It offers a wide range of deck equipment, from winches, winches, deck panels and portholes to windlasses and steering systems. A subsidiary based in Guilford, Connecticut, is responsible for sales and distribution in the United States.

A member of the LCI Industries group, the American Lippert Components is a specialist in original equipment for transport and recreational vehicles. Also present in Ireland, the United Kingdom and Italy, it owns the Taylor Made Products brand, which offers equipment for boating, from protective covers to fenders and deck covers.

"The boating industry has been a permanent growth target for LCI and with the acquisition of Lewmar, we are extending this strategy to a global level," explains Jason Lippert, CEO of LCI "This is our 6th acquisition in the global boating market and also our 6th in Europe Acquisition manager Jason Falk adds: "We believe that the Lewmar acquisition will bring great synergies

More articles on channels: