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Patrick Completes Acquisition of Diamondback

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Patrick Industries announced that it completed its acquisition of Diamondback Towers, doing business as Diamondback Marine.

Diamondback is a Florida-based OEM supplier of wakeboard/ski towers and accessories. The acquisition will immediately add to earnings, Patrick Industries said a statement yesterday.

“Diamondback’s industry relationships, standards for quality and service, and engineering and design capabilities are an ideal fit with our full solutions model and strong brand portfolio,” said Patrick CEO Andy Nemeth. “Diamondback’s vision also aligns well with our capacity expansion plans and automation strategies.”

The business will continue to operate as a standalone unit under the Diamondback Marine brand, Patrick Industries said.

“Our team is excited to join forces with Patrick and its independent brand philosophy,” Diamondback president Bobby Fleckinger said. “We are poised to leverage Patrick’s broad strategic resources and marine industry presence to further our values and goal of providing the highest quality, innovative solutions to our customers.”

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