Patrick Industries buys Florida metals company
ELKHART, Ind. (Inside INdiana Business) — Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) continues its flurry of 2020 acquisitions with the purchase of Taco Metals in Florida. Patrick says Taco Metals makes several boating products, including sport fishing and outrigger systems, chairs and other hardware for the recreational boating industry.
Patrick Chief Executive Officer Andy Nemeth says the acquisition includes working capital and other assets, but financial details were not disclosed.
Patrick will continue to operate Taco on a stand-alone basis under its brand name and in its existing manufacturing facilities in Tennessee and Florida, and distribution centers in Tennessee, Florida, South Carolina and Massachusetts.
“Taco is an innovative, single source solutions provider offering a comprehensive suite of products and accessories with tremendous brand value, a customer first approach, and compelling aftermarket product lines,” said Nemeth. “Taco is a recognized industry leader with a long-standing and diversified customer base, and possesses a full design and engineering support team, global supply chain and broad manufacturing capabilities.”
This is the fourth acquisition for Patrick in 2020, after previously buying a Colorado stone company, Synergy RV of Goshen and an Illinois-based aluminum components manufacturer.