Patrick Industries to merge with LCI Industries in all-stock deal
- Patrick Industries (NASDAQ:PATK) and LCI Industries (NYSE:LCII) entered a definitive agreement to combine in an all-stock merger.
- LCI shareholders will receive 1.2440 Patrick shares for each LCI share, resulting in Patrick shareholders owning approximately 52% of the combined company.
- The merger creates a premier component solutions provider for the outdoor enthusiast, housing, and transportation markets.
Patrick Industries (NASDAQ:PATK) and LCI Industries (NYSE:LCII) have entered into a definitive agreement to combine in an all-stock merger.
The transaction brings together two companies with complementary product portfolios and longstanding partnerships across North America and Europe.
LCI shareholders will receive 1.2440 shares of Patrick common stock for each share of LCI common stock they own, with Patrick shareholders owning approximately 52% and LCI shareholders approximately 48% of the combined company.
“Today marks the beginning of an exciting new chapter in the evolution of our two companies,” said Andy Nemeth, CEO of Patrick.
The combined company will create a more dynamic platform serving OEMs and consumers through a broader portfolio of brands, more efficient operations, and enhanced R&D capabilities.
The merger is expected to enhance value for shareholders through improved financial performance, reduced costs, and continued focus on execution.
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