According to InsideIndianaBusiness, MH component manufacturer Patrick Industries, Inc. of Elkhart, Indiana has acquired Décor Mfg LLC for $4.4 million. Todd Cleveland, president and CEO of Patrick, says of the Tualatin, Oregon company: “The Oregon market is significant in terms of RV market potential as it relates to overall Northwestern United States RV production levels, and we estimate it to be the second largest RV producing geographic sector outside of the Midwest.” Patrick funded the acquisition by issuing 100,000 shares of common stock and tapping into their revolving line of credit. Décor, which will retain its name, makes high pressure laminate and wrapping for the northwestern U.S. RV market, and expects revenues for 2012 of $17 million. Patrick operates a laminate production and distribution facility in nearby Woodburn, OR providing counter-tops and wrapped products to the manufactured housing and RV markets. MHProNews.com has learned Patrick’s other products include cabinetry, decorative vinyl moldings and panels, interior passage doors, and slotwall components, in addition to other building products with locations in 12 states. Patrick Ind. stock gained 1.24 percent in today’s trading.
