1. Patrick Industries acquires Quality Engineered Services and Egis Group. 2. Combined revenue for QES and Egis is approximately $39 million. 3. Acquisitions enhance Patrick's offerings in marine and RV electrical solutions. 4. QES's location near OEMs strengthens market position and service delivery. 5. Egis expands Patrick's engineering talent and component capabilities.
FAQ
Why Bullish?
The acquisitions strengthen Patrick's market position and offerings. Historical examples show similar strategic acquisitions have resulted in increased stock values.
How important is it?
The acquisitions directly enhance revenue and service capabilities, impacting overall growth.
Why Long Term?
These acquisitions are poised to build long-term customer relationships and revenue streams, similar to past acquisitions in this sector.
Patrick Industries, Inc. Expands Marine Market Presence Through Strategic Acquisitions
Patrick Industries, Inc. (NASDAQ: PATK) recently announced the successful completion of its acquisitions of Quality Engineered Services (QES) and Egis Group, LLC (Egis). This strategic move, unveiled on [insert announcement date], is set to enhance Patrick's capabilities in the marine and recreational vehicle sectors, effectively positioning the company for robust growth in these industries.
Acquisition Details and Financial Impact
Quality Engineered Services, located in Syracuse, Indiana, specializes in manufacturing wire harnesses and electrical systems tailored for the marine and RV markets. On the other hand, Egis, based in Bellingham, Washington, is renowned for its development of engineered electrical components and comprehensive system-level solutions, including essential products such as:
- Terminal blocks
- Battery fuses
- Circuit breakers
- Flex relays
- Power distribution modules
The combined revenue for QES and Egis, calculated on a trailing 12-month basis, reached approximately $39 million as of November 2025. This financial boost is expected to contribute positively to PATK’s overall revenue stream.
Leadership Insights on the Acquisitions
Andy Nemeth, Chief Executive Officer of Patrick, expressed enthusiasm about welcoming the teams from QES and Egis, noting, "These organizations have cultivated strong, customer-first cultures and have a long-standing focus on quality, service, reliability, and innovation.” He emphasized that this collaboration would leverage the companies' engineering capabilities to deliver greater value to customers and shareholders.
Jake Petkovich, President of Marine, added, "These acquisitions further advance Patrick's long-term strategy to develop an innovative and custom suite of component solutions for OEMs in the Outdoor Enthusiast space and the aftermarket." He highlighted how the proximity of QES to major pontoon and RV OEMs, along with the broad engineering expertise from Egis, enhances Patrick's service offerings.
Continuity and Future Plans
In line with Patrick's approach to acquisitions, both QES and Egis will continue to operate under their established brand names and maintain their current facilities, ensuring a seamless transition for existing customers. This strategy reinforces PATK’s commitment to delivering tailored solutions and exceptional service across its product lines.
About Patrick Industries, Inc.
Founded in 1959 and headquartered in Elkhart, IN, Patrick Industries, Inc. (NASDAQ: PATK) is a leading provider of component solutions across the RV, marine, powersports, and housing markets. With around 10,000 skilled employees and a portfolio of over 85 trusted brands, Patrick is dedicated to elevating outdoor experiences through quality, service, and innovation. For further inquiries and information about Patrick's offerings, visit www.patrickind.com.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Factors may include expectations concerning future performance, developments, and financial outcomes. Potential risks influencing these statements are discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent Forms 10-Q, filed with the SEC and available on www.sec.gov.