Patrick Industries Acquires Alpha Systems
(photo courtesy of Patrick Industries)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowElkhart-based Patrick Industries Inc. (Nasdaq: PATK) continues to expand its footprint in northern Indiana. The company says it has completed the acquisition of Alpha Systems LLC, a manufacturer and distributor of products for the recreational vehicle industry, which is also located in Elkhart.
Terms of the deal were not disclosed however Patrick says Alpha’s trailing 12-months revenue through March 2021 was approximately $158 million.
Alpha’s major product categories include adhesives and sealants, roofing membranes for RVs, and injection molded products.
“Alpha’s broad array of products adds scale and complements our current portfolio offering with bolt-on product line extensions,” said Andy Nemeth, President and Chief Executive Officer of Patrick. In addition, their local footprint and well-respected sales and marketing team offer opportunities to expand our aftermarket presence as well as our platform, brand, and distribution network.”
Patrick says the new business will continue to operate on a stand-alone basis under the Alpha name in its existing manufacturing facilities.
RVs account for more than half of Patrick’s business lines as it manufactures and supplies the industry with a variety of components and building products including wall coverings, countertops, and cabinetry. It also supplies products to the manufactured home and marine industries.
Patrick has been in acquisition mode for the past six months. In March it completed the purchase of Sea-Dog Corp., a manufacturer of after-market boat markets that is in Washington.
In November, the company bought Taco Metals in Florida, which manufactures boating products, like outrigger systems and chairs.
Also that month, it purchased aluminum components manufacturer Geremarie Corp., which is in Illinois.