Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) has acquired Tennessee-based Marine Accessories Corp. Financial terms of the deal were not immediately disclosed, however Patrick says MAC will continue to operate under its brand names in its existing facilities.
MAC is a manufacturer, distributor and aftermarket supplier of custom tower and canvas products, as well as other related accessories to dealers, retailers, distributors and consumers in the marine market. The company has eight manufacturing and distribution facilities throughout the U.S. and Europe.
"MAC’s innovative marine products, and design, engineering, manufacturing, and aftermarket expertise provide us with an excellent opportunity to further penetrate the marine market and leverage our existing capabilities within our marine platform," said Todd Cleveland, chief executive officer of Patrick.
Patrick says MAC’s 12-month revenue through May 2017 was approximately $50 million. MAC is the seventh company acquired by Patrick in 2018.