Cleary Gull sells Indiana manufacturer

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Milwaukee-based private equity firm Cleary Gull Inc. has completed the sale of Roehm Marine LLC to Lippert Components Inc.

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Cleary Gull has completed a deal.

New Haven, Ind.-based Roehm Marine, doing business as Signature Seating, makes furniture for pontoon boats, which it sells to pontoon boat manufacturers. Cleary Gull provided exclusive financial advice to Signature, which was a portfolio company of Indianapolis-based Centerfield Capital Partners.

Elkhart, Ind.-based Lippert Components is a subsidiary of Drew Industries Inc., which distributes recreational vehicle components and manufactured homes. It also makes furniture for towable RVs. Lippert has 39 locations in 12 states.

The acquisition of Roehm is expected to provide Lippert with additional clientele in the pontoon boat market.

“Signature Seating will continue to flourish under the additional leadership of the LCI team,” said Rob Roehm, chief executive officer of Signature. “Our objective is to grow both our marine and motorhome furniture markets, and LCI brings the experience and the capital to accelerate the growth in both of these markets.”

“We are excited to have the Signature business and its employees join the Lippert Components family,” said Scott Mereness, president of Drew Industries. “LCI is a leading provider of furniture solutions for the RV towable industry, and the addition of Signature provides immediate access to the pontoon boat market. Fresh water boats, and in particular pontoon boats, are a natural extension for our furniture team.”

Molly Dill, former BizTimes Milwaukee managing editor.

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