Lippert Acquisition Strengthens Steel Division
Lippert Components Inc. (LCI) announced it has acquired certain assets and the engineering team of Midstates Tool & Die & Engineering Inc., a designer and builder of automated equipment, production tooling, progressive dies and one-hit stamping dies. According to a press release, the business will be operated as Lippert Automation, Tool and Die.
“The assets and people we’ve added from Midstates will help us design more efficient and consistent automation processes that are key in producing high quality products for our customers,” said Jason Lippert, CEO of Drew Industries Inc., LCI’s parent company.
The former Midstates team offers decades of experience and provides additional support and expertise as a part of the LCI Steel Division, the release stated. The business also brings LCI several new customers, allowing the Steel Division to further diversify and expand its market reach.
Vice President of LCI Automation and Manufacturing Jeff Few believes the acquisition will help the Steel Division move to the next level. “Combining the seasoned specialists of Midstates with our automation and tool and die team will give us velocity as we further automate to increase productivity and quality,” he said.
Lippert expects the acquisition to drive the next phase of automation for LCI, noting, “The Midstates team has developed a strong reputation for quality workmanship, and we expect to build on that strength.”