Another Acquisition For Patrick

Patrick CEO Todd Cleveland says Patrick's marine platform now represents more than $125 million in annual revenue.

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Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) has completed its second acquisition in as many weeks. The manufacturer has added Aluminum Metals Co. LLC, also based in Elkhart, to its portfolio in a $16.5 million deal.

AMC manufactures and distributes aluminum products for the recreational vehicle, industrial and marine markets. Patrick says AMC’s revenues for 2017 totaled approximately $38 million.

"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 aluminum products to the primary markets we serve," said Todd Cleveland, chief executive officer of Patrick.

Patrick says AMC will continue to operate under its brand name in its existing facility. 

Last week, Patrick announced its acquisition of Tennessee-based Metal Moulding Corp. in a $20 million deal. The company also touted its numerous acquisitions throughout 2017.