Drew acquires Calif. trailer maker for $10.7M

Drew Industries Inc. of White Plains, a publicly traded supplier of components for recreational vehicles and manufactured homes, recently paid about $10.7 million to acquire a California-based manufacturer of specialty trailers for high-end boats.

Drew, through its wholly owned subsidiary, Lippert Components, purchased Extreme Engineering Inc. and the Riverside company’s affiliate, Pivit Hitch Inc. The two companies reported $12 million in sales collectively in 2006, Drew officials said.

Extreme Engineering’s trailers are built according to customer specifications and sold through performance boat and ski boat manufacturers and dealers nationwide. Leigh J. Abrams, Drew’s president and CEO, said the acquired company’s operations “will be an excellent fit with our existing California-based subsidiary Zieman Manufacturing, which manufactures specialty trailers primarily for smaller, less expensive boats.”

Abrams said the acquisition should also result in “numerous cost and marketing synergies.”

Lippert will continue production at Extreme Engineering’s leased Riverside plants and transfer some operations there as existing Zieman factories are consolidated. Edward Rowland and Thomas Hunsucker, the former owners, will continue to operate Extreme Engineering under three-year employments agreements.

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