Patrick Industries has completed its acquisition of Nashville, Georgia-based Coyote Mfg. Co., a designer, fabricator and manufacturer of boat trailers, towers, T-tops, leaning posts and other marine components.
“Coyote is a high-quality creative brand in the marine market known for its product innovation, customized style, and superior customer service,” Andy Nemeth, chief executive officer of Patrick, said in a statement. “Coyote’s marine components complement Patrick’s growing portfolio in the OEM market while offering the potential for expansion into the other leisure lifestyle markets.”
The acquisition is expected to be immediately accretive to earnings per share. Coyote will operate independently under its brand name in its existing facility.
David Money, co-owner of Coyote, commented, “The Coyote team is very pleased to join the Patrick family and we look forward to partnering with Patrick to continue to drive innovation with our product offerings, in addition to further broadening our geographic reach.”
“Consistent with previous acquisitions, we will support Coyote with a financial and operational foundation that will allow it to continue to capitalize on its core competencies while preserving the brand and entrepreneurial spirit that have been so important to its success,” said Nemeth.