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Also based in Elkhart, Indiana, based Alpha Systems is a manufacturer and distributor of component products and accessories, primarily serving the recreational vehicle industry, in addition to the manufactured housing, commercial building, and marine markets.
Alpha's major product categories include adhesives and sealants, roofing membranes for RVs, roto/blow and injection molded products, butyl tape, shutters, and various other parts and accessories. Alpha's trailing 12-months revenue through March 2021 was approximately $158 million, and the acquisition is expected to be immediately accretive to earnings per share.
"We are extremely excited to partner with David Smith and the team at Alpha, whose premium brand offers both new product entry points into the end markets we serve and the opportunity to continue to bolster our competitive edge through the utilization of Alpha's capacity, advanced technology, and extensive R&D capabilities," said Andy Nemeth, President and Chief Executive Officer of Patrick. "Alpha's broad array of products adds scale and complements our current portfolio offering with bolt-on product line extensions. In addition, their local footprint and well-respected sales and marketing team offer opportunities to expand our aftermarket presence as well as our platform, brand, and distribution network.