Elkhart Manufacturer Acquires Washington Company
ELKHART - Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) has completed its acquisition of Topline Counters LLC, a manufacturer of kitchen and bathroom countertops headquartered in Washington. Financial terms of the deal were not disclosed.
Topline designs, engineers, manufactures and installs a variety of natural stone, quartz, laminate and solid surface countertops for residential, commercial high-rise and big box retail markets. Patrick says the company's 12-month revenue through November 2019 was approximately $34 million.
Patrick Industries is a manufacturer and distributor of component and building products for a variety of industries, including residential housing and high-rise markets. President Andy Nemeth says the acquisition gives the company the opportunity to further expand its presence into the Pacific Northwest and western housing markets.
"In addition, this acquisition will strengthen our ability to leverage our existing industrial operations and product portfolio further developing our full solutions model, with a focus on the residential single and multi-family housing markets, hotels and commercial high-rises, and big box retail," said Nemeth. "Consistent with previous acquisitions, we will support Topline with a financial and operational foundation that will allow it to capitalize on its core competencies while preserving the entrepreneurial spirit that has been so important to its success."
In addition to its headquarters in Sumner, Washington, Topline also has facilities in the Spokane and Vancouver, Washington.