U.S. Senator Mike Lee, Chairman of the Senate Subcommittee on Antitrust, Competition Policy, and Consumer Rights, sent an oversight letter on Apr. 22 expressing concerns about a potential merger between recreational vehicle companies LCI Industries and Patrick Industries.
The issue is significant because both companies are among the largest suppliers in the U.S. RV components market. A merger could impact competition and prices for American consumers who enjoy traveling by RV.
“I sent a letter to LCI and Patrick raising antitrust concerns about their proposed merger for the RV components,” said Senator Mike Lee. “I’m conducting oversight to ensure this deal does not raise prices for Americans who love RVing.”
LCI reported full-year 2024 consolidated net sales of $3.7 billion, while Patrick reported $3.715 billion in net sales for 2024, including $1.6 billion from sales to the RV market. Combining these companies would create a large supplier across multiple component categories that are critical to manufacturers of recreational vehicles.
In his letter, Lee outlined several questions and requested answers from both companies before any merger proceeds.
Lee has championed constitutional principles and individual liberty as a U.S. senator, according to the official website. He is also known for promoting limited government and free markets according to his official biography. Born in Provo as a fourth-generation Utahn and son of legal scholar Rex E. Lee, he earned degrees in political science and law from Brigham Young University according to his official website.
Observers will be watching closely as responses from LCI Industries and Patrick Industries may determine whether further regulatory review or intervention will be necessary.
