Patrick Industries, Inc. (NASDAQ:PATK) was founded in 1959 and is headquartered in Elkhart, Indiana, with 7,700 full-time employees. It is a manufacturer of recreational vehicles, ships, man-made houses and industrial markets in the United States and Canada. And companies that distribute construction products and materials.
Patrick Industries, Inc. (PATK):
Patrick Industries, Inc. was established in 1959 and is a major manufacturer and distributor of components and construction products in the recreational vehicle, ship and man-made housing industries. Patrick also provides many products to certain industrial markets, including residential, high-rise buildings, hotels, kitchens, office and household furniture, fixtures and commercial furniture, and customers in other industrial markets. Patrick’s main manufactured products include decorative vinyl and paper laminates, solid surfaces, granite and quartz countertops, aluminum finished products, wrapped vinyl, paper and hardwood profile molding, slide-out decorations and panels, Cabinet doors and components, hardwood furniture, fiberglass bathroom fixtures and tile systems, thermoforming shower enclosures, special bathroom and closet construction products, fiberglass and plastic helmet systems and component products, wires and wiring harnesses, boat covers, towers, Top and frame, electrical system components (including dashboards and dashboards), cork wood, indoor access doors, air handling products, RV painting, tank wall panels and components, aluminum fuel tanks, and CNC molds and composite parts.
Patrick Industries is divided into two departments to operate: Manufacturing (manufacturing department) and Distribution (distribution department).
- Manufacturing -manufacture and sale of furniture, shelves, walls, countertops and cabinet products; cabinet doors, fiberglass bathroom fixtures and tile systems; hardwood furniture, vinyl printing, solid surfaces, granite and quartz countertops manufacturing products; RV paintings; aluminum Products; decorative vinyl and paper laminates; fiberglass and plastic components; cork panels; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument panels and instrument panels, and other products. The department also provides wrapped vinyl, paper and hardwood profiles. Interior access doors; slide-out decoration and dashboard products; thermoformed shower rooms; specialty bathroom and closet construction products; fiberglass and plastic rudder systems and components; wires and wiring harnesses; aluminum fuel tanks; boat covers, towers, tops and Frame; CNC mold and composite parts; and slot wall panels and components.
- Distribution -distribution of prefabricated wall and ceiling panels, drywall and drywall facing products, electronic products, audio system components, electrical appliances, wiring products, electrical and plumbing products, cement siding products, logs and processed wood, fiber reinforced Polyester products, indoor access doors, roof products, laminate and ceramic floor products, shower doors, furniture, fireplaces and fences, indoor and outdoor lighting products, and other products. The department also provides transportation and logistics services.
Patrick Industries provides products through a network of manufacturing and distribution centers.
Patrick Industries, Inc. (PATK) history:
- In 1959, the company was established in Elkhart, Indiana.
- In 1961, the company was incorporated.
- In 1963, it expanded to Georgia.
- In 1968, the company changed its name to Patrick Industries, Inc. and went public.
- In 1968, facilities were opened in Kansas, Pennsylvania, Texas, North Carolina and Florida.
- In 1968, acquired Midwest Laminated Products and Mobilcraft.
- In 1971, it was listed on the Nasdaq Stock Exchange under the stock code PARK.
- In 1972, the Custom Vinyls laminating department was established.
- In 1973, Nickell Enterprises was acquired.
- In 1980, acquired ILC Products Company, Inc. and its Conroth division.
- In 1995, acquired US Door in Phoenix, Arizona.
- In 1996, opened a factory in Woodburn, Oregon, a custom vinyl and distribution center.
- In 1998, it acquired WoodTek Industries, which is a door supplier for the RV and man-made housing industries.
- In 1999, Lanmark Distribution, a warehouse distribution center in northern California, was acquired.
- In 2007, it acquired American Hardwoods in Phoenix, Arizona.
- In 2007, the acquisition of Adorn Holdings, Inc., headquartered in Elkhart, Indiana, was the largest acquisition to date.
- In 2009, American Hardwoods and aluminum extrusion business (Patrick Metals) were sold.
- In 2010, acquired Quality Hardwoods Sales and Blazon International Group.
- In 2011, it acquired The Praxis Group, AIA Countertops and Infinity Graphics.
- In 2012, Decorative Dynamics was established.
- In 2012, four companies were acquired, Décor Mfg., Gustafson Lighting, Creative Wood Designs and Middlebury Hardwood Products.
- In 2013, it acquired Frontline Mfg., Premier Concepts and West Side Furniture three companies.
- In 2014, it acquired four companies: Precision Painting Group, Foremost Fabricators, PolyDyn3 and Charleston Corporation.
- In 2015, it acquired four companies, Better Way Products, Structural Composites of Indiana, North American Forest Products and North American Moulding.
- In 2015, the stock split was completed.
- In 2016, opened a 45,000 square foot design/innovation center and showroom studio in Elkhart, Indiana.
- In 2016, completed the acquisition of eight companies including Parkland Plastics, The Progressive Group, Cana Cabinetry, Mishawaka Sheet Metal, LS Manufacturing, BH Electronics, Sigma Wire International and KRA International.
- In 2016, it became a constituent stock of S&P Small Cap 600 Index.
- In 2016, celebrated the 45th anniversary of listing on the Nasdaq Stock Exchange.
- In 2016, it ranked 41st among the 100 fastest growing companies in Fortune magazine.
- In 2016, the number of employees reached 5,000.
- In 2017, additional stock issuance was completed.
- In 2017, completed the acquisition of Medallion Plastics, Leisure Product Enterprises and Nickell Moulding. Among them, Leisure Product Enterprises includes Marine Concepts/Design Concepts, Florida Marine Tanks, and Marine Electrical Products, Wire Design, Baymont Bathware, Indiana Transport, LMI, Inc. and related companies.
- In 2017, through more than 90 manufacturing and distribution facilities, the geographic distribution was further expanded to 20 states and China.
- In 2017, the number of employees reached 6,800.
- In 2018, completed the acquisition of eight companies including Metal Moulding Corp., Aluminum Metals Co., Indiana Marine Products, Collins & Co., Dehco Inc., Dowco Inc., Marine Accessories Corp., Engineered Metals and Composites, Inc. and LaSalle Bristol Acquisition.
- In 2018, the number of employees exceeded 8,100.
- In 2018, the geographic distribution of manufacturing and distribution facilities totaled more than 140.
- In 2019, acquired GG Schmitt & Sons, Inc. and Topline Counters, LLC.
- In 2019, the number of employees was 7,500.
- So far in 2020, it has acquired Maple City Woodworking Corp, SEI Manufacturing, Inc. and Inland Plywood Company. The geographic distribution of manufacturing and distribution facilities totals more than 170, with more than 7,700 employees. The company opened in Sarasota, Florida. 14,000-square-foot exhibition hall Marine Design & Engineering Center (Marine Design & Engineering Center).