10 Unexpected Ways Decorative Molding Kitchen Cabinets Can Make Your Life Better | Decorative Molding Kitchen Cabinets

ELKHART, Ind., Feb. 20, 2018 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") appear today that it has completed the accretion of the business and assertive assets of Madison, Tennessee-based Metal Moulding Corporation ("MMC"), a architect of custom metal bogus products, primarily for the abyssal market, including hinges, arm rests, brackets, panels and trim, as able-bodied as artificial articles including boxes, applique tables, steps, and accompanying components. MMC's full-year 2017 revenues were about $19 million. The absolute banknote application paid was about $20 million, added the abeyant for up to $2 actor of added application aloft the accomplishment of assertive achievement metrics. The Company expects the accretion to be anon accretive to net assets per share.

"This accretion is well-aligned with our cardinal initiatives and basic allocation action to abide to abound our agreeable in the primary markets we serve," said Todd Cleveland, Chief Executive Officer of Patrick. "MMC is a high-quality custom architect of a array of metal and artificial articles to OEMs in the abyssal industry, and their artefact alms complements our absolute metal artifact ability and artefact portfolio."

"MMC's custom design, engineering, manufacturing, fabrication, and crumb covering capabilities, accompanying with their amazing abiding acceptability and absolute apartment of basic products, will position us to added aggrandize our attendance in the growing abyssal market," said Andy Nemeth, President of Patrick. "Consistent with antecedent acquisitions, we will abutment MMC with a banking and operational foundation that will acquiesce it to capitalize on its amount competencies while attention the ambitious spirit that has been so important to its success."

Jimmy Parrish, architect and President of MMC, said, "After added than 30 years in business, we are  aflame to accomplice with Patrick whose all-inclusive portfolio of products, resources, and chump aboriginal access will advice to added abound the MMC cast and accompany a array of amount added solutions to our barter and markets. We feel that Patrick is a abundant fit for our aggregation and we are assertive to abide to abound our business, chump relationships, and cast platform."

The accretion of MMC included the accretion of accounts receivable, inventory, and accouterment and equipment, and was adjourned beneath the Company's absolute acclaim facility.  Patrick will abide to accomplish MMC on a stand-alone base beneath its cast name in its absolute facility.

Patrick Industries, Inc.Patrick Industries, Inc. is a above architect of basic articles and benefactor of architecture articles confined the recreational vehicle, bogus housing, marine, kitchen cabinet, appointment and domiciliary furniture, accessories and bartering furnishings, and added automated markets and operates coast-to-coast through locations in 20 states and in China. Patrick's above bogus articles accommodate adorning vinyl and cardboard laminated panels, countertops, bogus aluminum products, captivated contour mouldings, slide-out trim and fascia, chiffonier doors and components, balk furniture, fiberglass ablution accessories and asphalt systems, thermoformed battery surrounds, specialty ablution and closet architecture products, fiberglass and artificial captain systems and basic products, base and wire harnesses, electrical systems apparatus including apparatus and birr panels, softwoods lumber, autogenous access doors, RV painting, slotwall panels and components, aluminum ammunition tanks, and CNC molds and blended genitalia and added products.  The Company additionally distributes drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and accouterments products, adhesive siding, raw and candy lumber, FRP products, autogenous access doors, beam products, coat and bowl flooring, battery doors, furniture, fireplaces and surrounds, autogenous and exoteric lighting products, and added assorted products.

Cautionary Account Regarding Forward-Looking StatementsThis columnist absolution contains assertive statements accompanying to approaching results, our intentions, behavior and expectations or predictions for the future, which are advanced statements as that appellation is authentic in the Private Securities Litigation Reform Act of 1995. Any projections of banking achievement or statements apropos expectations as to approaching developments should not be construed in any address as a agreement that such after-effects or developments will, in fact, occur. There can be no affirmation that any advanced account will be accomplished or that absolute after-effects will not be decidedly altered from that set alternating in such advanced statement. The Company does not undertake to about amend or alter any advanced statements except as appropriate by law. Factors that may affect the Company's operations and affairs are independent in the area advantaged "Risk Factors" in the Company's Annual Report on Form 10-K for the year concluded December 31, 2016, and in the Company's Form 10-Qs for consecutive annual periods, which are filed with the Securities and Exchange Commission ("SEC") and are accessible on the SEC's website at www.sec.gov.

View aboriginal agreeable with multimedia:http://www.prnewswire.com/news-releases/patrick-industries-inc-completes-acquisition-of-metal-moulding-corporation-300601102.html

SOURCE Patrick Industries, Inc.

http://www.patrickind.com

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