LCI Industries said on 28 October 2026 that Monomoy Capital Partners had made an unsolicited, non-binding proposal to buy the company for US$101 per share in cash, a bid valued at about US$2.46bn.
Why Monomoy Capital Partners is buying LCI Industries
Monomoy already has a presence in the RV supply chain: it bought Thetford in 2021 and made its first RV-industry investment in 2020, when it acquired aluminium extrusion supplier Astro Shapes.
Deal terms and financing
The proposal is for all of LCI's shares in cash and is non-binding. It is about 12% above LCI's closing price of US$89.84 on 27 October. Under the agreed Patrick deal, LCI shareholders would receive 1.2440 Patrick shares for each LCI share; Patrick's share price has fallen since the merger was announced on 30 June, reducing the implied value of that offer.
Regulatory approvals and timing
LCI's board continues to recommend the Patrick merger, whose registration statement was declared effective by the SEC on 19 October 2026, and said it would review Monomoy's proposal with its independent financial and legal advisers. It advised shareholders to take no action on the proposal for now.
Market context
Patrick said on 28 October that it had been notified of the proposal by LCI, reaffirmed its merger agreement and would monitor developments. LCI shares rose about 7% in pre-market trading after the disclosure.
