Iowa-based RV manufacturer Winnebago Industries has announced the acquisition of Lithionics Battery, a Florida-based company that specializes in the design and manufacture of advanced lithium-ion batteries for a wide range of applications.
According to Winnebago Industries CEO Michael Happe, the addition of Lithionics will enhance the company’s technological and engineering capabilities, allowing it to offer consumers more differentiated products with innovative electrical solutions.
The acquisition is also expected to bring strategic sourcing benefits and secure a critical area of Winnebago’s supply chain. The financial terms of the deal were not disclosed.
“The addition of Lithionics enhances Winnebago Industries’ ability to develop unique and diverse battery solutions across our portfolio, advancing our overall electrical ecosystem, driving organic growth and supply chain security, reinforcing our technological competitive advantage and allowing us to capitalize on consumer preferences for fully immersive, off-the-grid outdoor experiences,” Happe said.
Lithionics’ founder and CEO Steve Tartaglia also expressed enthusiasm about the acquisition.
He believes that combining Lithionics’ battery systems with Winnebago’s strong brands and innovation expertise will create a range of technologically superior products that will change the way people experience the outdoors.
“By combining Lithionics’ differentiated battery systems and Winnebago Industries’ strong brands and innovation expertise, we will create a range of technologically superior products that will change the way people experience the outdoors – allowing them to bring the comfort of electricity with them wherever they travel,” Tartaglia said.
The acquisition of Lithionics is expected to enhance Winnebago Industries’ margin profile over the near- and long-term and create value for the company’s shareholders, employees and consumers.
The Lithionics team will also bring a unique familiarity with Winnebago’s business and the broader outdoor recreation space, as well as share a commitment to quality and safety that fits seamlessly with Winnebago’s culture of excellence.
“We see significant opportunities to expand the use of their efficient energy solutions within our own portfolio, to continue to grow relationships with other existing customers and to explore new market applications,” Happe said.
“Through these applications, we expect Lithionics will enhance Winnebago Industries’ margin profile over the near- and long-term and create value for our shareholders, employees and consumers. We look forward to working with Steve and his team to integrate their unique platform of electrical capabilities,” Happe, added.
The acquisition of Lithionics Battery by Winnebago Industries underscores the increasing importance of advanced electrical systems in the design and functionality of modern RVs.
As more consumers look to fully immersive, off-the-grid outdoor experiences, RV manufacturers are under pressure to provide electrical solutions that can keep up with their demands.
By acquiring Lithionics, Winnebago Industries will be able to offer consumers more differentiated products with innovative electrical solutions, as well as enhance the company’s technological and engineering capabilities.
This, in turn, will reinforce the company’s technological competitive advantage and allow it to capitalize on consumer preferences for fully immersive, off-the-grid outdoor experiences.
Moreover, the acquisition is expected to bring strategic sourcing benefits and secure a critical area of Winnebago’s supply chain.
With a reliable source of advanced lithium-ion batteries, Winnebago will be better equipped to meet the growing demand for its products and stay ahead of its competitors in the RV industry.