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Patrick and LCI Industries Merge Creating Giant
30 Jun
Summary
- Patrick and LCI Industries will combine in an all-stock merger.
- The combined entity anticipates over $150 million in cost synergies.
- The merger is expected to close in the first half of 2027.
Patrick Industries and LCI Industries announced Tuesday their definitive agreement to combine in an all-stock merger, creating a significant player in component solutions for outdoor, housing, and transportation markets. LCI shareholders will receive 1.2440 shares of Patrick common stock per LCI share.
The combined entity forecasts over $150 million in run-rate cost synergies within three years, driven by procurement enhancements, administrative efficiencies, and supply chain improvements. Based on pro forma trailing twelve months results as of March 2026, the merged company expects $8.1 billion in revenue and $1.0 billion in adjusted EBITDA.
Patrick CEO Andy Nemeth will lead the combined company, with its board comprising six directors from each company. The transaction is slated for closure in the first half of 2027, pending shareholder and regulatory approvals. The new company will be headquartered in Elkhart, Indiana.
