Patrick Acquires Furniture Maker

RVBusiness reports Elkhart, Indiana-based Patrick Industries has acquired Creative Wood Designs, Inc. of Ligonier, Ind. for $5.7 million, which includes a contingency payment based on future performance. With expected revenues for 2012 of $18 million, Creative Wood Designs produces hardwood furnishings and trim for the recreational vehicle industry, and marks Patrick’s sixth acquisition since 2011. Founded in 1959, Patrick is a component supplier to the manufactured home and recreational vehicle industry. MHProNews posted Patrick’s stock (NASDAQ: PATK) having gained +7.58% Fri. Sept. 14, to close at 14.62.

(Image credit: Patrick Industries, Inc.)

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