Patrick Industries acquires marine transportation company
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Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) has acquired BTI Transport, a marine transportation company also headquartered in Elkhart. Financial details were not disclosed, but Patrick said the acquired company will now operate as Patrick Marine Transport.
BTI was founded in 1995 and provides transport and backhaul services for pontoons and fishing boats, as well as campers, vehicles and machinery.
“We believe the efficiency and scope of our marine transportation combined with Patrick’s sizeable financial and operational resources will unlock a new phase of growth for Patrick Marine Transport, while empowering us to hold true to our values as we deliver the exceptional service our loyal customers expect,” BTI President Joe Bonacorsi said in a news release.
It was not immediately clear if any jobs would be negatively affected by the acquisition. However, Patrick said the acquired company will continue to operate within its existing footprint.
“We will provide a financial and operational foundation that will allow Patrick Marine Transport to continue to drive its strategic vision and capitalize on its core competencies,” said Patrick Industries CEO Andy Nemeth.
Patrick Industries manufactures components for the RV, marine, manufactured housing and various industrial markets. The company has about 11,000 employees across the country.
Patrick did not respond to a request for more information from Inside INdiana Business.