Patrick Industries, Inc. has completed the acquisition of the business and certain assets of West Columbia, South Carolina-based Engineered Metals and Composites, Inc. (EMC), a designer and manufacturer of custom marine towers, frames, and other fabricated component products for OEMs in the marine industry. EMC’s trailing 12-months revenue through August 2018was approximately $16 million and the Company expects the acquisition to be immediately accretive to net income per share.
The acquisition of EMC includes the acquisition of accounts receivable, inventory, and machinery and equipment, and was funded under the Company’s existing credit facility. Patrick will continue to operate EMC on a stand-alone basis under its brand name in its existing facility.
About Patrick Industries, Inc.
Patrick Industries, Inc. is a major manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, marine, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets and operates coast-to-coast in various locations throughout the United States and in China and The Netherlands. Patrick’s major manufactured products include decorative vinyl and paper laminated panels, countertops, fabricated aluminum products, wrapped profile mouldings, slide-out trim and fascia, cabinet doors and components, hardwood furniture, fiberglass bath fixtures and tile systems, thermoformed shower surrounds, specialty bath and closet building products, fiberglass and plastic helm systems and component products, wiring and wire harnesses, boat covers, towers, tops and frames, electrical systems components including instrument and dash panels, softwoods lumber, interior passage doors, RV painting, slotwall panels and components, aluminum fuel tanks, and CNC molds and composite parts and other products. The company also distributes drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and plumbing products, appliances, cement siding, raw and processed lumber, FRP products, interior passage doors, roofing products, laminate and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other miscellaneous products, in addition to providing transportation and logistics services.