Patrick Industries has acquired foam flooring supplier Hyperform, operating under the SeaDek brand name.
Hyperform serves the marine, powersports, utility and pool industries under sister brands SwimDek and EndeavorDek – collectively “SeaDek.” The company had 2020 revenues of $25 million, Patrick stated.
“We are extremely excited to partner with the industry-leading SeaDek team and continue to build out our portfolio of high-quality marine component suppliers under our full solutions model,” Patrick CEO and President Andy Nemeth said. “These three brands specialize in creating innovative and highly functional products that use a high-grade, proprietary blended foam material, offering a safe, durable and comfortable alternative to traditional marine and specialty market flooring products.”
The SeaDek acquisition includes working capital, real estate and other assets. Patrick will operate the brand on a stand-alone basis, with existing facilities and brand names.
“This acquisition provides significant opportunities for growth in both the OEM market and the aftermarket, as well as additional resources and channels to further expand our marine products and accessories offerings to the markets we serve across the U.S. and internationally,” Nemeth said.
“My brother Jim and I, along with the rest of the SeaDek team, are pleased to join the Patrick family and continue the legacy of SeaDek after nearly four decades as a family-owned business,” SeaDek CEO Kurt Wilson said. “We look forward to partnering with Patrick.”
