Patrick Industries, Inc. announced complete acquisition of the business and certain assets of Aluminum Metals Company, LLC, based at Elkhart, Indiana. AMC is a manufacturer and distributor of aluminium products including coil, fabricated sheets and extrusions, in addition to roofing products for recreational vehicles (RV) and industrial and marine sector. AMC's full-year 2017 revenues stood at about $38 million.
Commenting on the acquisition, Todd Cleveland, Chief Executive Officer of Patrick said, "Consistent with our strategic growth initiatives in conjunction with our capital allocation and acquisition strategies, the acquisition of AMC allows us to capitalize on its value-added manufacturing capabilities, products, and expertise as a high quality supplier of a variety of customized fabricated aluminium products to the primary markets we serve."
"We look forward to partnering with AMC, whose product offering and available capacity complement our existing aluminium and metals platform, and provide us with an opportunity to further drive synergies and add additional content per unit in the RV, industrial and marine markets," said Andy Nemeth, President of Patrick.
Company representatives said that they would provide financial and operational support that will help it to capitalize on its core competencies and boost the entrepreneurial spirit. Patrick will continue to operate AMC separately under its brand name in its existing facility. The acquisition of AMC was funded under the Company's existing credit facility.
Patrick Industries, Inc. is a manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, marine, household and office and other industrial markets.
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