ELKHART, Ind., Aug. 30, 2021 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Organization”) announced today that it has concluded the acquisition of Tumacs Handles (“Tumacs”), a major producer of personalized built boat covers, canvas frames, and bimini tops, mainly serving maritime OEMs and sellers. Tumacs is headquartered in Pittsburgh, Pennsylvania, with manufacturing facilities in Indiana and Pennsylvania and a distribution/services middle in Michigan.
“Tumacs’ special fast-flip prototyping and customization capabilities and considerable assortment of boat protect purposes exude their meticulous craftsmanship and dedication to products excellence,” explained Andy Nemeth, Chief Govt Officer of Patrick. “Tumacs’ track record for customized boat handles allows assist Patrick’s complete options organization model in the maritime OEM marketplace and aftermarket and offers us with further runway to additional grow our place as a benefit-included ingredient provider to the marine industry. As with prior acquisitions, we will assistance Tumacs with a economical and operational basis that will allow it to capitalize on its core competencies while preserving the entrepreneurial spirit that has been a vital factor to its results.”
Bob McCall, President of Tumacs, commented, “The Tumacs group and I are extremely pleased to be a part of the Patrick relatives and continue on the legacy of the organization my spouse and children founded around 60 yrs back. We appear ahead to partnering with Patrick and leveraging their means and associations to encourage prolonged-expression expansion. Patrick’s emphasis on exceeding the expectations of its shoppers and supplying a wide breadth of superior-top quality product or service offerings is in tandem with the concentrate on workmanship, innovation, and service we price at Tumacs to further more push model benefit.”
The acquisition is anticipated to be immediately accretive to earnings per share. The business enterprise will go on to operate on a stand-alone basis less than the Tumacs Covers brand name in its existing facilities.
About Patrick Industries, Inc.
Patrick Industries (NASDAQ: PATK) is a primary ingredient remedies company for the RV, marine, made housing and various industrial markets – like single and multi-loved ones housing, hospitality, institutional and commercial marketplaces. Started in 1959, Patrick is based mostly in Elkhart, Indiana, with about 10,000 workforce and 160 companies across the United States.
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