LCI Industries Acquires Freedman Seating Company

LCI Industries (NYSE: LCII), through its subsidiary Lippert Components, announced the acquisition of substantially all assets of Freedman Seating Company, a longtime Illinois-based manufacturer of transportation seating solutions. Freedman, founded in 1894, serves bus, rail, marine, truck, and specialty vehicle markets. Its operations will continue in Chicago post-acquisition.

This move strengthens Lippert’s position in the transportation vehicle segment, adding seating products to its existing offerings in windows, glass, and recently acquired climate control systems via Trans Air. Lippert aims to create a comprehensive solution portfolio for commercial bus and specialty vehicle OEMs.

Executives from both companies expressed alignment in values and long-term vision. Craig Freedman, CEO of Freedman, emphasized growth opportunities and preserving legacy, while Lippert leaders highlighted customer service and product integration synergies.

LCI reiterated forward-looking goals including operational growth and efficient integration but also acknowledged typical transaction risks like cost overruns and workforce disruption.

LCI Industries announced its intent to launch a private offering of $400 million in convertible senior notes due 2030. The offering is subject to market conditions and other factors. Proceeds from the offering may be used for general corporate purposes, potential share repurchases, and the repayment of a portion of the company’s existing 1.125% Convertible Senior Notes due 2026.

Additionally, the company issued an investor presentation, which includes details on the company’s financial outlook and strategy. The announcement was made in a press release issued on March 11, 2025.

This report contains forward-looking statements regarding the terms of the notes, financing transactions, and the potential repurchase of outstanding debt and shares. The company highlights risks such as market conditions and trends, as detailed in its filings with the SEC.

The offering does not constitute an offer to sell or buy securities in any jurisdiction where such activity would be unlawful.

LCI Industries (NYSE: LCII) announced that its Board of Directors has approved a regular quarterly cash dividend of $1.15 per share of common stock. The dividend will be payable on March 21, 2025, to stockholders of record as of March 7, 2025.

LCI Industries, through its Lippert subsidiary, is a global leader in supplying engineered components for the outdoor recreation and transportation markets. The company emphasizes innovation, advanced manufacturing, and customer experience to serve both OEM and aftermarket customers.

This announcement includes forward-looking statements regarding financial performance, market conditions, and operational risks. The company advises investors to consider various risk factors, including global economic conditions, supply chain challenges, and industry trends, as outlined in its SEC filings.