Patrick Industries has acquired Elkhart-based Transhield, a protection solutions manufacturer for the marine, military and industrial markets.
According to Patrick Industries, Transhield’s protective covers and shrinkable protective packaging help customers protect critical and high-value assets against corrosion, damage and harsh conditions during transport and storage.
“We are extremely excited to partner with Jim Glick, Matt Peat and the entire Transhield team,” Patrick Chief Executive Officer Andy Nemeth said. “Transhield’s innovative and quality product solutions have significant potential across multiple market sectors, and their culture, spirit and industry reputation for customer service are an ideal fit within our portfolio of companies and independent brands. As with previous acquisitions, we will provide a financial and operational foundation that will allow Transhield to continue to drive its strategic vision and capitalize on its core competencies.”
The acquisition is expected to gradually grow net income per share, Patrick Industries said.
“We look forward to partnering with Patrick and are energized by the growth opportunities that Patrick and Transhield can pursue together,” Transhield President Jim Glick said, “including the expansion of our market presence and leveraging Patrick’s footprint to further develop our aftermarket channel…all while maintaining our brand identity and strong industry relationships.”
Patrick President Jeff Rodino said the company is excited to leverage Patrick’s scale to support Transhield’s growth.
“The manufacturing synergies, geographic fit and shared commitment to continuous improvement make this a strong partnership from the start,” Rodino said.
Transhield will continue to operate independently in its existing facilities.
