Patrick Industries To Merge With LCI Industries In All-Stock Merger; LCII Shareholders To Receive 1.2440 PATK Shares For Each LCII Share Hel
Combines customer-focused component solutions providers across complementary product portfolios and end markets. Compelling financial benefits underpinned by strong cash flow generation and a solid balance sheet to drive continued growth and disciplined capital allocation strategy. Patrick shareholders will own approximately 52% of the combined company and LCI shareholders will own approximately 48%. Accelerates shareholder value creation, with $150+ million of estimated run-rate synergies. Andy Nemeth to serve as CEO of combined company; Todd Cleveland to serve as Chair, and Johnny Sirpilla to serve as Vice Chair of combined company Board. Companies to host joint conference call and webcast today at 8:30 a.m. Eastern time.
Combines customer-focused component solutions providers across complementary product portfolios and end markets.
Compelling financial benefits underpinned by strong cash flow generation and a solid balance sheet to drive continued growth and disciplined capital allocation strategy.
Patrick shareholders will own approximately 52% of the combined company and LCI shareholders will own approximately 48%.
Accelerates shareholder value creation, with $150+ million of estimated run-rate synergies.
Andy Nemeth to serve as CEO of combined company; Todd Cleveland to serve as Chair, and Johnny Sirpilla to serve as Vice Chair of combined company Board.
Companies to host joint conference call and webcast today at 8:30 a.m.
Eastern time.