ROCKLEDGE, Fla. - Patrick Industries, ranked 67 on the latest FDMC 300, has acquired Hyperform Inc., a manufacturer of non-slip flooring.
Hyperform operates under the SeaDek brand name, running two manufacturing plants in Florida. The company had revenues of around $25 million in 2020.
"We are extremely excited to partner with the industry-leading SeaDek team and continue to build out our portfolio of high-quality marine component suppliers under our full solutions model," said Andy Nemeth, Patrick CEO. "This acquisition provides significant opportunities for growth in both the OEM market and the aftermarket as well as additional resources and channels to further expand our marine products and accessories offerings to the markets we serve across the U.S. and internationally."
The acquisition of SeaDek includes the acquisition of working capital, real estate and other assets and was funded under the Company's credit facility. Patrick will continue to operate SeaDek on a stand-alone basis under its brand names in its existing facilities.
Patrick Industries is a major manufacturer and distributor of component products and building products serving the recreational vehicle, marine, manufactured housing, residential housing, high-rise, hospitality, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets. Patrick's major manufactured products include decorative vinyl and paper laminated panels, countertops, fabricated aluminum products, wrapped profile mouldings, slide-out trim and fascia, cabinet doors and components, and hardwood furniture.
The company has operations in 20 states, Canada, China, and the Netherlands, employing more than 7,000.
Patrick has acquired more than 25 companies over the past few years. Last November, it acquired Illinois-based Geremarie Corp. and Miami-based Taco Metals. See its other recent acquisitions here.
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