U.S. Senator Mike Lee, Chairman of the Senate Subcommittee on Antitrust, Competition Policy, and Consumer Rights, sent an oversight letter on Apr. 22 to LCI Industries and Patrick Industries expressing antitrust concerns about their potential merger in the recreational vehicle (RV) components market.
The issue is significant because a merger between two of the largest suppliers in the U.S. RV components sector could affect competition and pricing for American consumers who use RVs. The combined entity would have considerable scale across multiple component categories critical to RV manufacturers.
“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 Industries reported full-year 2024 consolidated net sales of $3.7 billion, while Patrick Industries reported $3.715 billion in net sales during 2024, including $1.6 billion in sales specifically to the RV market.
Lee’s oversight letter outlined several questions and issues that both companies must address before moving forward with any merger plans.
Lee has championed constitutional principles and individual liberty as a U.S. senator, according to the official website. He serves as Utah’s senator and promotes limited government, free markets, and constitutional values according to his official biography. Lee grew up as a fourth-generation Utahn in Provo and is the son of Rex E. Lee, a legal scholar and public servant according to his official website. He received both his bachelor’s degree in political science and Juris Doctor from Brigham Young University according to his official website.
As scrutiny continues around this proposed transaction, observers are watching closely for responses from both companies regarding Senator Lee’s concerns.
