Patrick Industries announced today its acquisition of Geremarie Corp., an aluminum components designer and supplier based in Lake Zurich, Illinois.
Geremarie is a fabricator of custom billet aluminum ski and wakeboard towers, components, trim and accessories for major OEM brands in the marine sector. In addition, the company serves the medical, aerospace, defense, commercial and industrial markets.
“By utilizing their state-of-the-art, fully automated systems and manufacturing capabilities, Geremarie has been successful in driving efficiency, throughput, and continuous improvement,” Patrick President and CEO Andy Nemeth stated. “We are very excited to partner with Jim Schultz and the Geremarie team, and we believe this acquisition represents an attractive cross-selling growth opportunity within multiple end markets while providing the potential for tremendous synergies across our brand platform.”
Nemeth noted Patrick’s plan to support Geremarie with a financial and operational foundation that will allow the company to capitalize on its core competencies while preserving an entrepreneurial spirit. Patrick predicts the company’s full-year 2020 revenues to be $44 million.
“After nearly 25 years developing and implementing the vision for our business model and growing our platform, we look forward to partnering with Patrick to continue to drive innovation with our product offering and our team’s commitment to customer excellence,” stated Geremarie Founder Jim Schultz. “Patrick shares our commitment to culture and delivering the highest quality products to our customers through continuous investment in processes, manufacturing technology, people, training and systems.”
Patrick will continue to operate Geremarie on a stand-alone basis under its brand name in its existing manufacturing facility.
