Lippert Components purchases Italy-based manufacturer

Drew Industries Inc. announced Wednesday that its wholly owned subsidiary, Lippert Components Inc., has acquired Project 2000, a Florence, Italy-based business that manufactures motorized entry steps, bed lifts and RV accessories. 

Lippert Components paid $18.8 million for the company. Project 2000 had 2015 sales of approximately $12 million. 

Jason Lippert, CEO of Lippert Components and Drew Industries, said that the acquisition will provide a foundation for the local company in the European RV market. 

“We have been working tirelessly to establish a presence in the European caravan market for the last three years,” he said. “Project 2000's team, products and innovative focus were key factors in our decision to make this acquisition.”

Project 2000 was founded in 1995 by Davide Nardini and his wife, Susanna Azzolini, after a camping trip left him desiring more functionality out of his camper's entry step. Nardini engineered a better motorized step that was quickly adopted by the European caravan industry.