Patrick Industries acquires Synergy RV
ELKHART, Ind. (Inside INdiana Business) — Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) has finished the acquisition of Synergy RV Transport based in Goshen. Financial terms of the deal were not disclosed.
Patrick says the acquisition includes working capital and other assets.
“Synergy is a leading transportation service provider and supply chain partner for its diverse customer base, which includes manufacturers and dealers ranging from nationally known brands to growing mid-size businesses,” said Andy Nemeth, president and CEO of Patrick. “Its success has been built around a customer-centric focus and its ability to serve as a one-stop-shop. This acquisition represents an attractive growth opportunity that will allow us to partner with the Synergy team to continue to expand our RV transport platform and network.”
Synergy co-founders Kyle Newcomer and Ben Brunner say this is the right move for their company.
“Patrick is a great fit for our team, operation and customers, and will be a valued resource in support of the further growth of the Synergy brand. Patrick shares the same vision of striving to provide superior service with a customer-first approach and will help us to continue to expand our business with our existing customers as well as new dealers and manufacturers.”
Patrick plans to continue to operate Synergy on a stand-alone basis under its brand name in existing facilities.