Patrick Industries

What Patrick Industries does

Patrick Industries, Inc. (NASDAQ: PATK) is a U.S.-based manufacturer and distributor of interior and exterior component solutions serving the Recreational Vehicle, Marine, Powersports, and Housing markets, with a footprint of approximately 160 businesses, 10,000 team members, and 85+ brands including Rockford Fosgate, SeaDek, TACO Marine, Sportech, Alpha Systems, Adorn, Transhield, Medallion Instrumentation Systems, Elkhart Composites, and RecPro. Headquartered in Elkhart, Indiana since its founding in 1959, the company operates two reported segments — Manufacturing and Distribution — and runs an aftermarket e-commerce platform (RecPro) acquired in September 2024.

The company's core technology stack spans composite materials (NTXT, Elkhart Composites), metal fabrication and marine towers (Diamondback, Coyote Manufacturing, XTCrbn carbon fiber), audio/electronics (Rockford Fosgate, Wet Sounds, Medallion), adhesives and sealants (Alpha Systems), protective covers (Transhield, including a five-year $50 million DLA defense contract), hardwood laminated panels (Adorn, Filippi 1971 partnership), and instrumentation. In March 2026, Patrick debuted The Experience — a collaborative digital design studio featuring a 50-by-14-foot LED screen with 1.2mm pixel pitch and Digital Twin scanning that reduces physical prototyping — at its Elkhart Design Center.

Patrick earns revenue primarily through B2B hardware sales to OEM manufacturers via direct enterprise sales teams under multi-year negotiated contracts, complemented by wholesale distribution (The Progressive Group's 10 distribution centers serving 4,000+ retail customers), e-commerce aftermarket (RecPro), and contract defense revenue. Full-year 2025 net sales were approximately $4.0 billion (up 6% year-over-year). In June 2026, Patrick announced an all-stock merger with LCI Industries expected to close in H1 2027, creating a combined entity with ~$8.1 billion in pro forma revenue and ~$1.0 billion in pro forma adjusted EBITDA, with targets of $150 million in annual cost synergies. The company maintains 2.6x net leverage and $818 million of total liquidity as of Q4 2025.

Name

Patrick Industries

Legal name

Patrick Industries, Inc.

Website

https://www.patrickind.com

Company type

Public

Founded year

1959

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Patrick Industries is a U.S. manufacturer and distributor of component solutions for RV, Marine, Powersports, and Housing OEMs, operating ~160 businesses, 85+ brands, and 10,000 team members from Elkhart, Indiana, with FY2025 net sales of ~$4.0 billion and a pending all-stock merger with LCI Industries.

Ownership category

akta.pro rank

Product category

RV and Marine Component Manufacturing

NAICS

Furniture and Related Product Manufacturing (337), Household and Institutional Furniture Manufacturing (33712), Other Electronic Component Manufacturing (334419), Electrical Equipment Manufacturing (33531)

SIC

Household Furniture (2510), Household Audio & Video Equipment (3651), Plastics Products, Nec (3089), Electronic Components, Nec (3679)

akta.pro primary industry

Marine Outfitting & Interior Refurbishment (TLAKAKAL)

akta.pro secondary industry

Consumer Products Injection Molding (Housewares, Toys, Personal Care) (IMANAFAE)

Keywords

• RV component manufacturing
• Marine parts manufacturing
• Powersports OEM components
• Manufactured housing materials
• Aftermarket distribution

Headquarters

HQ city

Elkhart

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Manufacturing Segment Revenue: Revenue from manufacturing interior and exterior component solutions including furniture, flooring, cabinetry, countertops, fiberglass, marine towers, audio systems, electronics, and specialty components for RV, Marine, Powersports, and Housing markets.
2. Distribution Segment Revenue: Revenue from distribution of appliances, trim products, fuel systems, flooring, tile, and other related building materials to RV, Housing, Marine, and Industrial markets through extensive distribution network.
3. Aftermarket E-commerce Revenue: Revenue from RecPro e-commerce platform serving aftermarket sales of component products, systems, and solutions for RV and marine end markets, selling direct to consumers and dealers.
4. Defense Contract Revenue: Revenue from five-year $50 million defense contract with Defense Logistics Agency (DLA) for protective cover solutions at DLA distribution centers and Department of Defense sites.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Patrick Industries manufactures and distributes interior and exterior component solutions — including furniture, cabinetry, flooring, countertops, fiberglass, marine towers, audio and electronic systems, instrumentation, composite panels, adhesives, sealants, and protective covers — for OEM customers in the Recreational Vehicle, Marine, Powersports, and Manufactured Housing markets. The company operates both a Manufacturing segment and a Distribution segment, delivering products through direct OEM sales, wholesale distribution (The Progressive Group), and the RecPro aftermarket e-commerce platform.

Product overview

Patrick Industries is a component solutions provider offering a diverse portfolio of over 85 brands across RV, Marine, Powersports, and Housing markets. The company's products span audio systems (Rockford Fosgate, The Progressive Group), marine components (SeaDek, TACO Marine, Coyote Manufacturing, Diamondback Towers), powersports parts (Sportech), structural materials (NTXT composite panels, Elkhart Composites), adhesives and sealants (Alpha Systems), hardwood products (Adorn), protective covers (Transhield), and digital design capabilities (The Experience). The company operates a 'Full Solution Model' encompassing design, engineering, manufacturing, distribution, and transportation services. Major recent acquisitions include Medallion Instrumentation Systems (electronics, 2024 revenue ~$38M), Quality Engineered Services and Egis Group (electrical components, combined ~$39M revenue), and RecPro (e-commerce aftermarket platform, ~$80M revenue). Patrick Industries also recently debuted 'The Experience' digital design studio featuring Digital Twin technology for virtual product visualization and prototyping.

Differentiator

Problem solved

Functional benefit

Brands

• Adorn: Manufacturer and supplier of custom-built hardwood doors, laminated panels, mouldings and pressed countertops to the RV and Housing markets.
• Alpha Systems
• Rockford Fosgate
• SeaDek
• TACO Marine
• RecPro
• Sportech
• Transhield
• Medallion Instrumentation Systems
• Elkhart Composites
• Coyote Manufacturing
• Diamondback Towers
• Wet Sounds

Products and services

• The Experience Digital Design Studio Collaborative digital design studio service for OEM customers in RV, Marine, Powersports, and Housing markets, enabling real-time visualization of materials, colors, finishes, and floorplans and reducing physical prototyping needs.
• NTXT Composite Solution Premium composite material for RV interiors and exteriors that resists mold, mildew, rot, and warping, with an advanced coating enabling fastener application without thicker materials and customizable thickness plus superior soundproofing.
• GereGlass Marine Windshields Marine windshields designed for demanding marine environments with unmatched clarity, durability, and seamless style.
• XTCrbn Carbon Fiber Wake Towers Carbon fiber ski and wake towers for marine applications, including NV1 and NV2 models, engineered for peerless strength and ultra-lightweight design.
• Rockford Fosgate TMS 5x7 Motorcycle Speakers Next-generation 5x7 motorcycle audio speakers with up to 200 watts of power and Element Ready durability, designed for direct-fit installation at factory mounting locations.
• Rockford Fosgate PUNCH PRO Speaker Series Speaker series purpose-built for SPL competition vehicles and high-output performance audio, with 75-watt RMS and 150-watt peak power ratings, UV-resistant materials, and an external crossover with selectable tweeter attenuation.
• Rockford Fosgate Polaris Audio Lineup Three purpose-built audio solutions for Polaris RZR and Sportsman vehicles including rear door speaker upgrade, subwoofer kit, and front rack audio system with vehicle-specific integration, Element Ready construction, and 150 to 400 watts of output.
• RecPro E-commerce Aftermarket Platform E-commerce aftermarket platform operating as ICON Direct, Inc. from Bristol, Indiana, selling component products, systems, and solutions directly to RV and marine consumers and dealers.
• Sportech Powersports Components High-value, complex components for powersports OEMs including integrated door systems, roofs, canopies, and windshields, with special emphasis on the utility vehicle segment and approximately 430 employees across Minnesota manufacturing locations.
• Medallion Instrumentation Systems Customized instrumentation and vehicle electronics for marine, RV, powersports, on-highway, and military markets, specializing in digital controls, lighting systems, integrated audio, sensors, wire harnessing, and touchscreen displays.
• Elkhart Composites Panel Products Composite panel products providing durable, lightweight, and sustainable alternatives to traditional wood materials for RV sidewalls and ceilings.
• Alpha Systems Adhesives and Sealants High-quality adhesives, sealants, roofing membranes, and molded products for RV, Marine, Housing, and Commercial Construction industries, specializing in roto-molded and blow-molded products including water and holding tanks.
• Adorn Hardwood Products Custom-built hardwood doors, laminated panels, mouldings, and pressed countertops to the RV and Housing markets, specializing in high volume orders of solid hardwood products.
• Transhield Protective Cover Solutions Proprietary protective cover solutions with cutting-edge patented technology and custom fit designs for defense, aviation, marine, rail, and industrial markets, including a five-year $50 million contract with the Defense Logistics Agency.
• The Progressive Group Wholesale Electronics Distribution Consumer wholesale electronics distribution and manufacturers' representative services offering innovative audio and electronic solutions through retail, OEM, and commercial channels, with over 80 sales professionals, 10 strategically located distribution centers, and more than 4,000 retail customers.
• Patrick Marine Transport (formerly BTI Transport) Marine transportation services based in Elkhart, Indiana, strengthening logistics services for OEMs and dealers in leisure lifestyle markets.
• Quality Engineered Services (QES) and Egis Group Electrical Components Electrical components for marine, RV, and specialty vehicle industries, combining QES in Syracuse, Indiana and Egis in Bellingham, Washington, with combined trailing 12-month revenue of approximately $39 million through November 2025.
• LilliPad Marine Products Marine products company acquired to expand Patrick's marine market portfolio and aftermarket offerings.

Quantifiable outcome

• Reduced physical prototyping from potentially 10 prototypes down to one through Digital Twin technology
• +2 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Filippi 1971coreStrategic or Co-development Partner · 10 October 2025Strategic partnership between Patrick Industries and Filippi 1971, an Italian manufacturer of laminated panels and components for recreational vehicles. Partnership expands distribution of postformed cabinet doors and custom-made RV components across the American market through Patrick's extensive customer base. Filippi 1971 samples are available at Patrick's immersive design center in Elkhart, Indiana.
• The Progressive GroupcoreStrategic or Co-development PartnerConsumer wholesale electronics distributor and manufacturers' representative founded in 1998, joined Patrick family in 2016. Offers innovative, high-quality audio and electronic solutions through both retail and OEM channels with 80+ sales professionals and 10 strategically located distribution centers serving 4,000+ retail customers.
• Care Camps FoundationminorGTM or Marketing PartnerChildren's camping charity partnership supporting children with cancer. Patrick partnered with Care Camps Foundation for Designing Spaces television episode at Camp Boggy Creek, providing camping experiences for children battling cancer.
• Defense Logistics Agency (DLA)coreStrategic or Co-development PartnerFive-year $50 million contract awarded to Transhield for providing storage cover solutions for various DLA distribution centers, warehouses, and Department of Defense sites. Contract aims to protect equipment from deterioration, improve logistics support, and reduce maintenance costs.
• Harley-Davidson Factory Race TeamminorGTM or Marketing PartnerRockford Fosgate partnered with Harley-Davidson Factory Race Team for content series and motorsports sponsorship, showcasing Rockford audio products in factory race team applications.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• LCI Industries: LCI Industries (Lippert Components) is Patrick Industries' most direct competitor and pending merger partner, supplying comparable component solutions — chassis, slide-outs, axles, furniture, and electronics — to the same RV, marine, and adjacent OEM customers.
• Dometic Group: Dometic is a global manufacturer of RV and marine component solutions (HVAC, refrigeration, sanitation, cooking), competing head-to-head with Patrick Industries' Marine and RV segments for OEM content and aftermarket share.

Others

• Winnebago Industries: Winnebago Industries is one of Patrick Industries' largest RV OEM customers, making it a relevant peer for understanding OEM demand patterns, content-per-vehicle trends, and end-market dynamics in the RV value chain.
• THOR Industries: THOR Industries is a major Patrick Industries RV OEM customer (operating multiple OEMs including Airstream, Jayco, Keystone), and its consolidated purchasing power directly shapes Patrick's RV segment revenue and pricing dynamics.
• Polaris Inc. Polaris is a major powersports OEM (RZR, Sportsman, Indian, Slingshot) and a key customer of Patrick's Sportech subsidiary for cab components, doors, roofs, and windshields in the utility vehicle segment.
• BRP (Bombardier Recreational Products): BRP (Can-Am, Sea-Doo, Ski-Doo) is a key powersports OEM customer of Patrick Industries via Sportech for integrated door systems, roofs, canopies, and windshields, providing read-through to powersports end-market demand.

Broad incumbents

• Brunswick Corporation: Brunswick is a leading marine OEM (Mercury Marine, Boston Whaler) and represents a major customer of Patrick's marine brands (SeaDek, TACO Marine, Diamondback); comparable in marine end-market exposure but operates upstream as an OEM.
• REV Group: REV Group manufactures specialty vehicles (RVs, ambulances, buses) and shares Patrick's exposure to niche vehicle end-markets, with overlapping component requirements though less focus on aftermarket.
• Magna International: Magna is the largest global automotive component supplier and provides a useful comparability benchmark for scale, M&A-driven growth strategy, and OEM partnership model, though primarily automotive rather than RV/marine focused.

Emerging players

• Garmin Ltd. Garmin competes in marine electronics and audio adjacent to Rockford Fosgate and Medallion, sharing the same marine OEM and powersports channels; comparable in technology-driven marine electronics but smaller in physical component content.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@patrickindustries
• Facebookfacebook.com/PatrickIndustries
• LinkedInlinkedin.com/company/patrick-metals-a-division-of-patrick-industries
• Instagraminstagram.com/patrickindustries
• Xx.com/ImpactPatrick

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries15 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A65 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Patrick Industries