Patrick Completes Acquisition of BHE, another Thermoformed Producer

Patrick_Industries__elkharttruth__Emily_Pfund__credit postedDailyBusinessNewsMHProNewsComponent supplier to the manufactured home and recreational vehicle industries, Patrick Industries, Inc. has finalized the acquisition of BH Electronics, Inc. (BHE) of Munford, Tennessee, according to what prnewswire tells MHProNews.

From five facilities in the southeast, BHE designs and produces custom thermoformed dash board and console assemblies, as well as complete electrical systems, for recreational boat manufacturers through out the U. S.

The company’s estimated revenues for 2016 are forecast to be $35 million, the same figure that Patrick (NASDAQ:PATK) paid for the company in cash. The company expects the acquisition to be immediately accretive to this year’s income.

Andy Nemeth, president of Patrick, said, “Consistent with previous acquisitions, we will support BHE with a financial and operational foundation that will allow it to capitalize on its core competencies while preserving the entrepreneurial spirit that has been so important to its success.”

BHE will continue to operate under its own name out of its five locations in Tennessee and Georgia.

As MHProNews posted July 7, 2016, Patrick acquired another thermoformed plastics producerr, Vacuplast, LLC, d/b/a LS Manufacturing, Inc. ##

(Photo credit: elkharttruth/Emily Pfund-Patrick headquarters in Elkhart, IN)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

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