MergerJun 30, 2026, 08:17 AM
LCI Industries & Patrick Industries Announce All-Stock Merger
AI Summary
LCI Industries and Patrick Industries announced an all-stock merger agreement, creating a premier component solutions provider for outdoor enthusiast, housing, and transportation markets. LCI shareholders will receive 1.2440 shares of Patrick common stock for each LCI share, resulting in Patrick shareholders owning approximately 52% and LCI shareholders 48% of the combined entity. The merger is expected to generate over $150 million in run-rate cost synergies and result in a pro forma revenue of $8.1 billion and adjusted EBITDA of $1.0 billion. The transaction, unanimously approved by both boards, is anticipated to close in the first half of 2027.
Key Highlights
- LCI Industries and Patrick Industries to combine in an all-stock merger.
- LCI shareholders will receive 1.2440 shares of Patrick common stock for each LCI share.
- Patrick shareholders will own approximately 52% and LCI shareholders 48% of the combined company.
- Combined pro forma revenue of approximately $8.1 billion and adjusted EBITDA of $1.0 billion.
- Expected to achieve over $150 million in run-rate cost synergies within three years.
- Andy Nemeth to serve as CEO, Todd Cleveland as Chair, and Johnny Sirpilla as Vice Chair of the combined board.
- The combined company's board will consist of 12 directors, with 6 from each company.
- Transaction is expected to close in the first half of 2027.
Price Impact
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