Patrick Industries Acquires Tumacs Covers
(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) has completed its acquisition of Tumacs Covers in Pittsburgh. Tumacs makes custom boat covers, canvas frames and other marine products in facilities in Pennsylvania and Indiana.
Patrick Chief Executive Officer Andy Nemeth says Tumacs is known in the industry for its craftsmanship.
“Tumacs’ reputation for custom boat covers helps support Patrick’s full solutions business model in the marine OEM market and aftermarket and provides us with additional runway to further grow our position as a value-added component supplier to the marine industry.”
Tumacs President Bob McCall says his family founded the business more than 60 years ago.
“We look forward to partnering with Patrick and leveraging their resources and relationships to promote long-term growth. Patrick’s emphasis on exceeding the expectations of its customers and providing a wide breadth of high-quality product offerings is in tandem with the focus on workmanship, innovation, and service we value at Tumacs to further drive brand value.”
Financial details of the deal were not disclosed. Patrick says Tumacs will continue to operate on a stand-alone basis under its own brand name.