WHITE PLAINS, N.Y. (AP) — Drew Industries Inc., which makes parts for recreational vehicles and manufactured homes, said Monday that it acquired the towable RV chassis and slide-out mechanism operation previously owned by Dexter Chassis Group from EA Technologies LLC for $13.5 million in cash.
The business has posted annual sales of more than $40 million. Drew said it expects the acquisition to boost its profits immediately.
Drew said that the market share it's gaining through this acquisition will allow it to boost the effectiveness of its existing manufacturing capacity. It expects to consolidate the new business' operations into its existing facilities by the end of the year.
Drew shares rose 19 cents to $17.99 in afternoon trading.