M&A Deal Summary

Patrick Acquires Sportech

On January 11, 2024, Patrick acquired manufacturer Sportech from Monomoy Capital Partners for 315M USD

Acquisition Highlights
  • This is Patrick’s 13th transaction in the Manufacturing sector.
  • This is Patrick’s largest (disclosed) transaction.
  • This is Patrick’s 60th transaction in the United States.
  • This is Patrick’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2024-01-11
Target Sportech
Sector Manufacturing
Buyer(s) Patrick
Sellers(s) Monomoy Capital Partners
Deal Type Add-on Acquisition
Deal Value 315M USD

Target

Sportech

Elk River, Minnesota, United States
website
Sportech is a designer, manufacturer, and assembler of cab components and systems for Powersports, golf & turf, industrial, and agriculture OEMs. It manufactures and assembles three main product categories primarily used in the production of utility task vehicles (UTVs): door assemblies, windshield assemblies, and other thermoformed plastic components. Sportech was formed in 1994 and is based in Elk River, Minnesota.

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Buyer(S) 1

Buyer

Patrick

Elkhart, Indiana, United States

website


Category Company
Founded 1959
Sector Building Materials
Employees8,800
Revenue 4.9B USD (2022)
DESCRIPTION
Entrance to Patrick Industries' corporate headquarters in Elkhart, Indiana.
Entrance to Patrick Industries' corporate headquarters in Elkhart, Indiana.

Patrick is a manufacturer of building products and materials to the manufactured housing and recreational vehicle industries in the United States. The Company also supplies many of its products to the Industrial market that include customers in the kitchen cabinet, household furniture, fixtures and commercial furnishings, marine, architectural and the automotive aftermarket. Patrick was founded 1959 and is based in Elkhart, Indiana.


DEAL STATS #
Overall 60 of 60
Sector (Manufacturing) 13 of 13
Type (Add-on Acquisition) 54 of 54
State (Minnesota) 1 of 1
Country (United States) 60 of 60
Year (2024) 1 of 1
Size (of disclosed) 1 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 BTI Transport

Elkhart, Indiana, United States

BTI Transport is a marine transportation company that transports pontoon boats all over the country. The company has a commitment to its manufacturers as well as its driver base. BTI Transport was formed in 1995 and is based in Elkhart, Indiana.

Buy -

Seller(S) 1

SELLER

Monomoy Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Monomoy Capital Partners is a private equity firm that invests in mid to large-sized companies valued up to $1 billion. Monomoy prefers cash flow positive companies with $20 to $100 million of EBITDA. Sectors of interest include automotive, industrial, distribution, consumer products, packaging, and transportation. Monomoy Capital Partners was formed in 2005 and is headquartered in New York City.


DEAL STATS #
Overall 20 of 20
Sector (Manufacturing) 5 of 5
Type (Add-on Acquisition) 7 of 7
State (Minnesota) 2 of 2
Country (United States) 20 of 20
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-21 Waupaca Foundry

Waupaca, Wisconsin, United States

Waupaca Foundry is a supplier of iron castings to the automotive, commercial vehicle, agriculture, construction, and industrial markets, produces gray iron castings, ductile iron castings, and austempered ductile iron castings using state-of-the-art processes and technology. The manufacturer also specializes in precision machining and assembly. Waupaca Foundry is headquartered in Waupaca, Wisconsin.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-23 EnviroTech

Greeley, Colorado, United States

EnviroTech provides winter road maintenance and road-stabilization products and services to government, commercial and industrial customers. The company supplies a range of granular and liquid deicing and anti-icing agents specifically formulated to be effective in multiple weather conditions, as well as a suite of products for dust control and soil stabilization for road maintenance. EnviroTech was founded in 1989 and is based in Greeley, Colorado.

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