Business Description
Patrick Industries, Inc. was founded in 1959 and incorporated in the state
of Indiana in 1961. Patrick is a major manufacturer of component products and
distributor of building products and materials serving original equipment manufacturers
(“OEMs”) primarily in the recreational vehicle (“RV”)
and manufactured housing (“MH”) industries. The Company also supplies
products to adjacent industrial markets, such as kitchen cabinet, office and
household furniture, fixtures and commercial furnishings, marine, and other
industrial markets. The majority of the Company’s industrial customers
are generally directly linked to the residential housing markets. At December
31, 2016, Patrick maintained 56 manufacturing plants and 22 warehouse and distribution
facilities in 16 states.
The Company’s strategic and capital allocation strategy is to optimally
manage and utilize its resources and leverage its platform of operating brands
to continue to grow its business. Through strategic acquisitions, expansion
geographically and into new product lines, investment in infrastructure and
capital expenditures, Patrick seeks to ensure that its operating network contains
both capacity and technology to support anticipated growth needs, to effectively
respond to changes in inventory and sales levels, and to successfully integrate
manufacturing, distribution and administrative functions.
Patrick manufactures and distributes a variety of products within its operating
segments including:
Manufacturing
Decorative vinyl and paper laminated panels
Solid surface, granite and quartz countertops
Fabricated aluminum products
Wrapped vinyl, paper and hardwood profile mouldings
Slide-out trim and fascia
Cabinet doors and components
Hardwood furniture
Fiberglass bath fixtures
Fiberglass and plastic component products including front and rear caps and
marine helms
Softwoods lumber
Interior passage doors
RV painting
Slotwall panels and components and other
Distribution
Pre-finished wall and ceiling panels
Drywall and drywall finishing products
Electrical systems components
Wiring, electrical and plumbing products
Electronics and audio systems components
Cement siding
Raw and processed lumber
Fiber reinforced polyester (“FRP”) products
Interior passage doors
Roofing products
Laminate and ceramic flooring
Shower doors
Furniture
Fireplaces and surrounds
Interior and exterior lighting products
Other miscellaneous products
44.79 %