Drew buys Starquest for 22.6 million

starquest products logoForbes reports that recreational vehicle and manufactured home component maker Drew Industries announced late Monday the acquisition of Starquest Products, LLC for $22.6 million.  Starquest and its affiliate Qualitec Manufacturing make windows primarily for truck caps, those fiberglass enclosures that fit of pickup truck beds. They also produce windows for buses and horse trailers. Starquest mainly makes windows for truck caps, which are fiberglass enclosures that fit over the bed of pick-up trucks. The company also makes windows and doors for horse trailers and buses, Drew said. The firm’s inducement stated the purchase would be funded with available cash and about 12 million of debt against its 50 million dollar line of credit. Drew expects that the acquisition of Starquest, with  annual sales of about $22 million, will immediately boost profits.  Editor’s Note: Drew is a firm tracked here on the MHProNews.com Daily Business News market report.  Drew announced earlier this month its acquisition of Dexter Chassis Group from EA Technologies LLC for $13.5 million in cash.

(Graphic credit: Starquest Logo)

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