ELKHART, IN – Patrick Industries Inc., a manufacturer of component products and distributor of building products, acquired the net assets and business of Phoenix-based American Hardwoods Inc. for cash financed with borrowings under Patrick’s credit facility.
“We expect the acquisition of American Hardwoods to be immediately accretive to our earnings,” said Paul E. Hassler, president and CEO of Patrick Industries. “American Hardwoods fits within the focus of our strategic plan by adding products which complement our existing product lines while further diversifying our customer base into the industrial markets.”
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