Patrick Industries, Inc. Signs Definitive Agreement to Acquire Sportech, LLC - a Leading Supplier of Premium Component Solutions to Powersports OEMs
Patrick Industries, Inc. Signs Definitive Agreement to Acquire Sportech, LLC - a Leading Supplier of Premium Component Solutions to Powersports OEMs
01/11/24, 4:32 PM
Location
elkhartelk riverIndustry
manufacturing
plastics manufacturing
Patrick Industries, Inc. has signed a definitive agreement to acquire Sportech, LLC for approximately $315 million. Sportech, based in Elk River, Minnesota, is a leading designer and manufacturer of high-value, complex component solutions to powersports OEMs, adjacent market OEMs, and the aftermarket. The acquisition is expected to be immediately accretive to profit margins and net income per share, providing Patrick Industries a solid platform for future organic and strategic growth within the powersports market.
Company Info
Location
Elkhart, Indiana, United States
Company info
Patrick Industries (NASDAQ:PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner and supplier of choice. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation.