Patrick Industries, a supplier of component products and distribution services to the recreational vehicle, marine, powersports, housing and industrial sectors, and LCI Industries have entered into a merger agreement, under which LCI shareholders will receive 1.2440 Patrick shares for each LCI share they own.
Following the transaction, Patrick (Nasdaq: PATK) shareholders will own approximately 52 percent of the combined company and LCI (NYSE: LCII) shareholders approximately 48 percent. The transaction, which was unanimously approved by both boards, is expected to close in the first half of 2027, subject to shareholder and regulatory approvals. LCI Industries, through its Lippert brand, manufactures engineered components and aftermarket products for the recreational vehicle, marine, powersports, automotive, transportation and housing industries. The company has built a portfolio spanning structural, mechanical and exterior systems, supported by an extensive North American distribution network and growing aftermarket business. Its complementary product lineup is expected to strengthen the combined company’s product offering, expand aftermarket access and enhance innovation capabilities across OEM and consumer markets.
JPMorgan Securities acted as financial advisor to Patrick, with Baird serving as co-lead financial advisor and McDermott Will & Schulte as legal advisor. Perella Weinberg Partners advised LCI financially, Kirkland & Ellis served as legal advisor, and FGS Global acted as strategic communications advisor.