Patrick Industries Completes Acquisition
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowElkhart-based Patrick Industries has completed its $14 million acquisition of Mishawaka Sheet Metal LLC, also based in Elkhart. Patrick says it will continue to operate the company under the MSM name in its existing facility.
Patrick Industries Chief Executive Officer Todd Cleveland said the acquisition allows Patrick to capitalize on MSM’s manufacturing capabilities, products and expertise. "In addition to further expanding our market presence and increasing our RV content per unit, the acquisition of MSM provides us the opportunity to continue to penetrate adjacent industrial markets with our broad product offering and value proposition."
"We look forward to partnering with MSM’s management team who possess a long-standing reputation throughout the industries they serve for their state-of-the-art design, engineering, and fabrication capabilities, and quality customer and supplier relationships," said Andy Nemeth, president of Patrick. "Consistent with our previous acquisitions, we will support MSM with a financial and operational foundation that will allow it to capitalize on its core competencies while preserving the creative entrepreneurial spirit and brand value that has been so important to its success."
Jeff Troyer, president of MSM, said the company’s management team is excited to join Patrick, which he says will "help propel MSM and its team members to the next level.