ELKHART, Ind. -- Patrick Industries, Inc. is continuing to grow, and reported more than 4,000 employees for 2017 in an early FDMC 300 report.
Patrick announced that it has completed the acquisition of LMI, Inc. and related companies. LMI is a designer, fabricator, and installer of specialty glass, mirror, bath and closet building products to residential housing and commercial high-rise builders, general contractors, retailers, and recreational vehicle manufacturers in the U.S.
LMI is headquartered in Ontario, California, and operates six manufacturing and distribution centers in California and Nevada and an additional manufacturing facility in China. The Company projects LMI's full-year 2017 revenues to be approximately $75 million. The total cash consideration paid for LMI was approximately $81 million.
LMI's specialty building and RV products include multiple lines of shower enclosures, fabricated glass products, vanity and wall mirrors, wardrobe doors and hardware systems, and closet organizers and shelving.
"LMI's excellent reputation has been built upon years of providing quality products and services and industry leading technical and installation expertise to its customer base," said Todd Cleveland, chief executive officer of Patrick. "LMI's offerings complement our existing industrial product portfolio and further increase our RV content per unit, while also allowing us to provide a full suite of bath and shower products to both new and existing customers.
Patrick will continue to operate LMI on a stand-alone basis under its brand names in its existing facilities. See http://www.patrickind.com.
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