Two of the RV industry’s largest suppliers are discussing a potential merger, and the possibility is already drawing attention from federal lawmakers.
LCI Industries and Patrick Industries, both headquartered in Elkhart County, Indiana, confirmed in April that they are in discussions about a potential “merger of equals.” The companies also stressed that the talks are ongoing and that no agreement has been reached, meaning the discussions could still end without a deal.
Even at this early stage, the potential merger is raising questions about how it could affect the RV industry.
Who the Companies Are
Both companies play a major role in supplying components used by RV manufacturers.
Patrick Industries
- Founded in 1959
- Supplies components and materials to RV, marine, powersports, and housing manufacturers
- Owns more than 85 brands
- Employs over 10,000 people in the United States
- Reported $4 billion in net sales in 2025
LCI Industries
- Founded in 1956 (formerly Drew Industries)
- Supplies engineered components through its Lippert subsidiary
- Operates 140+ manufacturing and distribution facilities across North America, Africa, and Europe
- Reported $4.1 billion in annual sales
Both companies manufacture or supply a wide range of RV components used across the industry.
Federal Lawmakers Raise Antitrust Concerns
The potential merger has drawn attention from Senator Mike Lee of Utah, who chairs the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights.
In a letter sent to the CEOs of both companies, Lee requested information about the discussions and the potential impact of a combined company.
The letter notes that merging two of the largest suppliers of RV components could raise concerns about market concentration and competition.
Among the issues raised:
- Reduced competition among suppliers
- Greater market concentration across RV component categories
- Potential pricing leverage over RV manufacturers
- Possible impacts on innovation and product development
- Supply chain resilience if fewer independent suppliers remain
Lee asked the companies to provide documents and written responses addressing these questions and the potential effects of a merger.
Why the RV Supply Chain Matters
RV manufacturers rely on a large network of suppliers to build their products.
Many key components used in RVs come from outside suppliers, including:
- Chassis systems
- Windows and structural materials
- Electrical systems
- Furniture and interior components
A merger between two major suppliers could potentially combine a significant share of those component categories under one company.
Federal antitrust law requires regulators to review transactions that could substantially lessen competition or create a monopoly.
Nothing Has Been Finalized
At this stage, the discussions remain preliminary. Both companies stated that discussions are ongoing and no agreement has been reached.
Further updates would likely come only if the companies reach a formal agreement or end the talks.
For now, the situation remains something the RV industry, regulators, and manufacturers are watching closely.
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