MergerJun 30, 2026, 04:46 PM
Patrick Industries and LCI Industries Announce All-Stock Merger
AI Summary
Patrick Industries, Inc. and LCI Industries have entered into a definitive agreement to combine in an all-stock merger. 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. This strategic combination aims to create a premier component solutions provider for outdoor enthusiast, housing, and transportation markets, with an estimated $150+ million in run-rate synergies. The combined company will be headquartered in Elkhart, Indiana, and is expected to close in the first half of 2027.
Key Highlights
- Patrick Industries and LCI 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.
- The transaction is expected to deliver over $150 million in run-rate cost synergies within three years.
- Combined company pro forma trailing twelve months revenue of approximately $8.1 billion.
- Pro forma adjusted EBITDA of $1.0 billion and free cash flow of $508 million, inclusive of synergies.
- Andy Nemeth will serve as CEO, Todd Cleveland as Chair, and Johnny Sirpilla as Vice Chair.
- The transaction is expected to close in the first half of 2027.
Price Impact
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