Patrick Industries acquires Washington marine distributor
ELKHART, Ind. (Inside INdiana Business) — Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) has finalized its acquisition of Sea-Dog Corporation in Washington. Sea-Dog makes marine and powersports hardware and accessories and distributes them to wholesalers, retailers and manufacturers.
Patrick Chief Executive Officer Andy Nemeth says Sea-Dog is known for its product development in the marine aftermarket.
“This acquisition adds to our aftermarket platform and provides us with additional resources and channels to further expand our marine products and accessories offerings to the markets we serve across the U.S. and internationally. We are excited to partner with Brad and Mark Nysether and the entire Sea-Dog team.”
Patrick says the acquisition includes working capital and other assets and was funded by the company’s credit facility. Patrick says it will continue to operate Sea-Dog on a stand-alone basis under its brand names.
Financial terms of the deal were not disclosed.