Patrick Industries, Inc. Signs Definitive Agreement to Acquire Sportech, LLC - a Leading Supplier of Premium Component Solutions to Powersports OEMs
Acquiring Company
Patrick Industries
Acquired Company
Sportech
ElkhartElk RiverManufacturingReal EstateBuilding MaterialWholesalePlastics ManufacturingDescription
Patrick Industries, Inc. has signed a definitive agreement to acquire Sportech, LLC for approximately $315 million. Sportech, based in Elk River, Minnesota, is a leading designer and manufacturer of high-value, complex component solutions to powersports OEMs, adjacent market OEMs, and the aftermarket. The acquisition is expected to be immediately accretive to profit margins and net income per share, providing Patrick Industries a solid platform for future organic and strategic growth within the powersports market.
Quick answer
Patrick Industries is acquiring Sportech, announced January 11, 2024. Patrick Industries is based in Elkhart, Indiana, United States.
- How much did Patrick Industries pay for Sportech?
- The deal value was not disclosed.
- What does Patrick Industries do?
- Patrick Industries (NASDAQ: PATK) is a leading component solutions provider for the RV, marine, manufactured housing and various industrial markets – including single and multi-family housing, hospitality, institutional..
- Where are Patrick Industries and Sportech based?
- Patrick Industries is based in Elkhart, Indiana, United States. Sportech is based in Elk River, Minnesota, United States.
- Who are the decision-makers at Patrick Industries?
- Fundz holds 1 contact at Patrick Industries. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Sportech?
Sportech was acquired by Patrick Industries, based in Elkhart. The deal was reported on January 11, 2024. Patrick Industries is publicly traded (PATK) and operates in Manufacturing.
When did Patrick Industries acquire Sportech?
Patrick Industries's acquisition of Sportech was reported on January 11, 2024. Patrick Industries, Inc. has signed a definitive agreement to acquire Sportech, LLC for approximately $315 million. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Sportech do?
At Sportech, we are experts at designing and manufacturing comprehensive accessory product portfolios that help our customers and end-users get more from their vehicles and equipment. It is privately held, operating in Plastics Manufacturing, and is based in Elk River.
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