RV PRO

October '20

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rv-pro.com October 2020 • RV PRO • 27 percent of our total revenues, down almost 6 percent from the prior year. We expect further expansion in our aftermarket adja- cent and international markets in 2020 as we focus on integrating our latest acquisitions into the business and capturing the related synergies, as well as continuing to identify new organic growth opportunities. Pro forma net sales for 2019 adjusted to include full-year results for businesses acquired reflect North American RV OEM net sales will be 51 percent of consolidated net sales. "We feel very confident we will reach our goal," he added. Credit its aggressive M&A posture for its success. According to the company, LCI historically uses 40 percent of its cash for acquisitions, with the remaining 60 per- cent split evenly between dividends to shareholders and capital expenditures. In an investor presentation given last December, LCI declared that it has identified "nearly $11 billion in growth opportunity through various markets as we continue to diversify." CURT Acquisition Offers Growth Opportunities One notable example of that is LCI's December 2019 purchase of CURT Group, a leading aftermarket manufacturer of branded towing products and truck accessories, for approximately $337 million – representing LCI's largest acquisition to date. CURT, headquartered in Eau Claire, Wis., maintains a robust product portfolio comprised of thousands of SKUs across var- ious product lines, including hitches, ball mounts, and cargo management. CURT brands include CURT, Aries, Luverne, Retrac, and UWS. CURT recorded sales of $268 million LCI acquired CURT Group in late 2019, the company's largest acquisition to date. CURT, headquartered in Eau Claire, Wis., maintains a robust product portfolio comprised of thousands of SKUs across various product lines, including towing products and truck accessories. Navarro

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