Patrick Industries completed the acquisition of the business and certain assets of Elkhart, Ind.-based Performance Graphics, a designer, producer and installer of exterior graphics for the recreational vehicle, marine, automotive, racing and enclosed trailer industries.
“The acquisition of Performance Graphics, along with the recent acquisitions of the Praxis Group and A.I.A. Countertops LLC, will allow the company to further expand its penetration into the RV and industrial market sectors and increase its market share and per-unit content,” president and CEO Todd Cleveland said in a statement. “In addition, the acquisition presents synergistic opportunities not only for the company, but for our customers.”
Performance Graphics' projected annualized 2011 revenues are about $1.7 million. The acquisition was primarily funded through borrowings under Patrick Industries’ revolving credit facility.
The business will continue to operate on a stand-alone basis under the Performance Graphics name in its existing manufacturing facility.
Patrick Industries is a major manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, kitchen cabinet, household furniture, fixtures and commercial furnishings, marine and other industrial markets and operates in 12 states.