Patrick Industries Inc. (Nasdaq: PATK) has completed the acquisition of another Elkhart-based company. Patrick President Andy Nemeth says the deal for Indiana Transport Inc. will create "a leading RV transportation operation." The business will be operated in stand-alone fashion under the Indiana Transport name at its existing facilities.
Indiana Transport hauls travel trailers, fifth wheels, gooseneck trailers, utility trailers and recreational watercraft from factories to deals throughout the country using independent contractors. Patrick expects Indiana Transport’s full-year, 2017 revenues to be approximately $100 million.
Chief Executive Officer Todd Cleveland says "Indiana Transport has quickly evolved into an industry-leading transportation service provider to the RV industry. Its success is built around its customer-centric focus, quick turnaround times, cutting-edge information technology platform, and the value of its superior service. Indiana Transport, whose diverse customer base includes manufacturers and dealers ranging from nationally known brands to growing mid-size businesses throughout the continental U.S. and Canada, represents an attractive growth opportunity that complements our strategic initiatives in the RV and marine markets."
The company says the acquisition will also open it up to establish new relationships with major RV and marine dealers.
Indiana Transport President and co-founder Charlie Roeder calls the deal "a great fit," adding Patrick "will be a valued resource in the further growth of the Indiana Transport brand, both within our core towables market and in non-RV markets." You can connect to more about the acquisition by clicking here.