Patrick Industries, Inc. Completes Acquisition of Elkhart Composites, Inc.
Patrick Industries (NASDAQ: PATK) has completed the acquisition of Elkhart Composites, a Thor Industries-owned company based in Elkhart, Indiana. Elkhart Composites, known for its 'Elkboard' brand, manufactures composite products for sidewalls and ceilings as sustainable alternatives to wood products, serving Thor branded companies and other external customers.
The acquisition strengthens Patrick's composite panel solutions portfolio and aligns with their commitment to serving RV and Marine OEM customers. Patrick Industries, founded in 1959, is a leading component solutions provider for RV, Marine, Powersports, and Housing markets, operating with more than 85 brands and employing approximately 10,000 skilled team members throughout the United States.
Patrick Industries (NASDAQ: PATK) ha completato l'acquisizione di Elkhart Composites, un'azienda di proprietà di Thor Industries con sede a Elkhart, Indiana. Elkhart Composites, nota per il suo marchio 'Elkboard', produce prodotti compositi per pareti laterali e soffitti come alternative sostenibili ai prodotti in legno, servendo aziende con marchio Thor e altri clienti esterni.
L'acquisizione rafforza il portafoglio di soluzioni per pannelli compositi di Patrick e si allinea con il loro impegno a soddisfare i clienti OEM nel settore RV e Marine. Patrick Industries, fondata nel 1959, è un fornitore leader di soluzioni per componenti per i mercati RV, Marine, Powersports e Housing, operando con più di 85 marchi e impiegando circa 10.000 membri del team qualificati in tutta gli Stati Uniti.
Patrick Industries (NASDAQ: PATK) ha completado la adquisición de Elkhart Composites, una empresa propiedad de Thor Industries con sede en Elkhart, Indiana. Elkhart Composites, conocida por su marca 'Elkboard', fabrica productos compuestos para paredes laterales y techos como alternativas sostenibles a los productos de madera, atendiendo a empresas con marca Thor y otros clientes externos.
La adquisición fortalece el portafolio de soluciones de paneles compuestos de Patrick y se alinea con su compromiso de atender a los clientes OEM en el sector de vehículos recreativos y marinos. Patrick Industries, fundada en 1959, es un proveedor líder de soluciones para componentes en los mercados de RV, Marine, Powersports y Housing, operando con más de 85 marcas y empleando a aproximadamente 10,000 miembros calificados del equipo en toda Estados Unidos.
패트릭 인더스트리(PATRICK Industries) (NASDAQ: PATK)는 인디애나주 엘크하트에 본사를 둔 엘크하트 컴포지트(Elkhart Composites)의 인수를 완료했습니다. 엘크하트 컴포지트는 '엘크보드(Elkboard)' 브랜드로 알려져 있으며, 측벽 및 천장용 복합 재료를 제조하여 목재 제품에 대한 지속 가능한 대안으로 제공하고 있으며, Thor 브랜드의 기업 및 기타 외부 고객을 대상으로 서비스를 제공합니다.
이번 인수는 패트릭의 복합 패널 솔루션 포트폴리오를 강화하고 RV 및 해양 OEM 고객을 지원하겠다는 목표와 일치합니다. 1959년에 설립된 패트릭 인더스트리는 RV, 해양, 파워스포츠 및 주택 시장을 위한 주요 부품 솔루션 제공업체로, 85개 이상의 브랜드를 운영하고 있으며, 미국 전역에 약 10,000명의 숙련된 팀원을 고용하고 있습니다.
Patrick Industries (NASDAQ: PATK) a finalisé l'acquisition de Elkhart Composites, une entreprise appartenant à Thor Industries, basée à Elkhart, dans l'Indiana. Elkhart Composites, connue pour sa marque 'Elkboard', fabrique des produits composites pour les parois latérales et les plafonds comme des alternatives durables aux produits en bois, servant des entreprises sous la marque Thor et d'autres clients externes.
Cette acquisition renforce le portefeuille de solutions de panneaux composites de Patrick et s'aligne sur leur engagement à servir les clients OEM dans les secteurs des véhicules récréatifs et marins. Fondée en 1959, Patrick Industries est un fournisseur leader de solutions pour composants sur les marchés des véhicules récréatifs, marins, Powersports et de l'habitat, opérant avec plus de 85 marques et employant environ 10 000 membres qualifiés dans tout le pays.
Patrick Industries (NASDAQ: PATK) hat die Übernahme von Elkhart Composites abgeschlossen, einem im Besitz von Thor Industries befindlichen Unternehmen mit Sitz in Elkhart, Indiana. Elkhart Composites, bekannt für die Marke 'Elkboard', stellt Verbundprodukte für Seitenwände und Decken als nachhaltige Alternativen zu Holzprodukten her und bedient Unternehmen mit Thor-Marke sowie andere externe Kunden.
Die Übernahme stärkt das Portfolio von Patrick bei Verbundpaneellösungen und entspricht ihrem Engagement, OEM-Kunden im Wohnmobil- und maritimen Sektor zu bedienen. Patrick Industries, gegründet 1959, ist ein führender Anbieter von Komponentenlösungen für die Märkte Wohnmobile, Marine, Powersports und Wohnbau und betreibt mehr als 85 Marken und beschäftigt rund 10.000 qualifizierte Teammitglieder in den gesamten Vereinigten Staaten.
- Strategic acquisition expanding composite panel solutions portfolio
- Strengthens partnership with major industry player Thor Industries
- Adds sustainable product line with 'Elkboard' brand to existing offerings
- Enhances service capabilities for RV and Marine OEM customers
- None.
Insights
This strategic acquisition marks a significant expansion of Patrick Industries' composite materials portfolio and strengthens its vertical integration capabilities. The deal carries particular weight as it involves acquiring a Thor Industries-owned company, potentially cementing Patrick's position as a preferred supplier to the world's largest RV manufacturer.
The transaction is especially timely given the industry's shift toward lightweight, sustainable materials. Elkboard's composite solutions for sidewalls and ceilings directly address two critical trends: 1) The push for fuel efficiency through weight reduction in RVs and marine vessels and 2) The growing demand for sustainable alternatives to traditional wood products.
From a competitive standpoint, this acquisition provides Patrick with several strategic advantages:
- Enhanced vertical integration capabilities, potentially leading to improved margins and supply chain control
- Strengthened relationship with Thor Industries, securing a stable revenue stream
- Expanded product portfolio in the high-growth composite materials segment
- Increased market share in sustainable building materials for RV and Marine markets
The deal's structure as a bolt-on acquisition aligns with Patrick's historical growth strategy of acquiring complementary businesses. While financial terms weren't disclosed, the integration of Elkhart Composites should provide immediate operational synergies through Patrick's existing manufacturing and distribution network, potentially driving margin expansion in the medium term.
"We are excited about the opportunity to further partner with Thor as we expand Patrick's own high-quality composite panel solutions to our markets," said Andy Nemeth, Chief Executive Officer of Patrick. "Elkhart Composites' products will join our growing portfolio of brands that supply composite materials, further aligning our commitment to excellence and serving our RV and Marine OEM customers at the highest level."
About Patrick Industries, Inc.
Patrick (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in
Forward-Looking Statements
This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company's Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission ("SEC") and are available on the SEC's website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made.
View original content to download multimedia:https://www.prnewswire.com/news-releases/patrick-industries-inc-completes-acquisition-of-elkhart-composites-inc-302366363.html
SOURCE Patrick Industries, Inc.
FAQ
What company did Patrick Industries (PATK) acquire in February 2025?
What products does Elkhart Composites manufacture under the Elkboard brand?
How does the Elkhart Composites acquisition benefit PATK's product portfolio?
What markets does Patrick Industries (PATK) serve after the Elkhart Composites acquisition?
How many brands does Patrick Industries (PATK) own following the acquisition?
