Patrick Industries has added to its product offerings with the announcement that it bought Front Range Stone. Terms of the acquisition were not announced.
Front Range Stone, based in Englewood, Colorado, is a fabricator and installer of natural stone, quartz, solid surface and laminate countertops. The company generated $30 million in revenue in 2019, and it will continue to operate on a standalone basis under its brand name and in its existing facilities, Patrick stated.
“Front Range has an excellent reputation built upon strong relationships and product knowledge, outstanding quality and service, and a comprehensive product suite that attracts a wide variety of customers in the various industrial markets it serves primarily in Colorado and southern Wyoming,” Patrick President and CEO Andy Nemeth stated. “This acquisition represents an attractive growth opportunity with strong leadership to leverage our existing industrial operations to expand both our countertop presence and our geographic presence into the Great Plains and western housing markets. Consistent with previous acquisitions, we will support Front Range with a financial and operational foundation that will allow it to capitalize on its core competencies while preserving the entrepreneurial spirit that has been so important to its success.”
The acquisition includes the acquisition of working capital and other assets.
“After nearly two decades growing our business, we look forward to continuing to drive our business model and leverage our strong relationships with our large regional and national customers as we strive to expand our market presence with the support of both the Front Range team and the Patrick family,” Front Range co-founder Brad Pearce said. “Patrick’s strategic and capital resources and existing industrial market presence will help to further grow the Front Range brand and bring a variety of value-added solutions to our customers and markets.”
