by: Mary Willkom, Inside Indiana Business
Job : / Update:
ELKHART, Ind. (Inside INdiana Business) – Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) has acquired Michigan-based Inland Plywood Co., a supplier, laminator and distributor of plywood and other specialty products. Financial terms of the deal were not disclosed.
Patrick says the acquisition includes working capital, machinery and equipment, and real estate. The company will continue to operate Inland independently under its brand at its existing facilities in Michigan and Florida.
“We are extremely pleased to partner with the team at Inland, who are recognized and respected market leaders with a tremendous brand and reputation for delivering innovative, quality products to the marine, recreational vehicle markets and manufacturers, and to consistently provide exceptional service to their customers,” said Andy Nemeth, Managing Director of Patrick. “Inland’s integrated lean supply chain model provides customers with a convenient, one-stop solution for supply of plywood and special value-added panels, warehousing and inventory management, customer service and logistics.
Inland’s revenue for fiscal 2019 was approximately $60 million.