Patrick Industries acquires e-commerce company
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Elkhart-based Patrick Industries Inc. is adding to its portfolio with another company headquartered in northern Indiana. The company announced Monday it has acquired Bristol-based Icon Direct Inc., an e-commerce company that does business as RecPro, though financial terms were not disclosed.
RecPro’s platform focuses on creating and marketing component products, systems and solutions for the RV and marine end markets, Patrick said in a news release.
“The addition of RecPro’s leading e-commerce platform meaningfully expands Patrick’s presence in the attractive Outdoor Enthusiast aftermarket and broadens the foundation of our aftermarket strategy as we seek to leverage our aftermarket product offerings and other product solutions across our RV, Marine and Powersports portfolio,” Patrick CEO Andy Nemeth said.
RecPro’s revenues for 2024 are estimated to be $80 million, Patrick said.
The company would not specify how many employees RecPro has, but Nemeth said the company’s owner, Mike Waumans Jr., and its team will be retained.
“We are excited about the opportunity to partner with Patrick and its network of leading brands and look forward to what we can achieve together,” Waumans said in the release. “With our online retail presence and robust customer-service platform, coupled with Patrick’s support of our entrepreneurial culture, we are energized by the opportunity to engage with Patrick’s leaders and portfolio of companies, utilizing our expertise and the RecPro platform to enhance Patrick’s aftermarket presence.”
Patrick said that RecPro will continue to operate under its existing brand name and in its current facilities.
Patrick Industries manufactures components for the RV, marine, manufactured housing and various industrial markets. The company has about 11,000 employees across the country.