Drew Industries Inc., a component supplier for recreational vehicles in White Plains, announced its wholly owned subsidiary Lippert Components Inc. acquired the patent for “JT”™s Strong Arm Jack Stabilizer,” including intellectual properties and assets from JT”™s RV Accessories, a manufacturer of RV products in California.
“The addition of this innovative stabilizing system to our product line is another step in our overall strategy to add value to our customers”™ products and increase our content per RV,” said Leigh J. Abrams, Drew”™s CEO.
Jason Lippert, president and CEO of Lippert, concurred. “This stabilizing system represents a significant advance in the elimination of side-to-side and front-to-back movement of a parked travel trailer or fifth wheel RV,” he said. “As a result, we believe it will quickly be accepted by many of our customers.”
The purchase price of $3 million was funded from available cash. Jim Thorpe, president and CEO of JT”™s RV Accessories, entered into a three-year employment contract with Lippert Components. Â
