Patrick Industries and LCI Industries have agreed to combine in an all-stock merger, creating a component solutions provider for outdoor recreation, housing, and transportation markets. LCI shareholders will receive 1.2440 Patrick shares for each LCI share, resulting in Patrick shareholders owning about 52% of the combined company and LCI shareholders about 48%. The combined company would have pro forma trailing 12-month revenue of approximately $8.1 billion, adjusted EBITDA of roughly $1.0 billion, and free cash flow of about $508 million, including synergies. The companies expect to generate more than $150 million in annual run-rate cost synergies within three years through procurement, SG&A, engineering, and supply chain efficiencies. The combined company will be headquartered in Elkhart, Indiana, and the transaction is expected to close in the first half of 2027.
LCI IndustriesLCI shareholders receive a premium in an all-stock merger with Patrick, creating a larger combined entity with significant cost synergies.
Patrick Industries IncPatrick acquires LCI in a deal expected to generate over $150M in annual cost synergies and enhance scale in outdoor recreation and housing markets.