Patrick Industries announced that it has completed its previously announced $315M acquisition of Sportech, a designer and manufacturer of high-value, complex component solutions to powersports OEMs, adjacent market OEMs and the aftermarket. In connection with the acquisition, the company expects to record one-time, non-recurring pretax charges in the first quarter of 2024 of approximately $7M related to transaction fees and non-cash purchase accounting adjustments.
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- Patrick Industries, Inc. Signs Definitive Agreement to Acquire Sportech, LLC – a Leading Supplier of Premium Component Solutions to Powersports OEMs
- Patrick Industries signs definitive agreement to acquire Sportech for $315M