M&A Deal Summary

Patrick Acquires Adorn

On May 18, 2007, Patrick acquired building materials company Adorn from Linsalata Capital Partners

Acquisition Highlights
  • This is Patrick’s 2nd transaction in the Building Materials sector.
  • This is Patrick’s 2nd transaction in the United States.
  • This is Patrick’s 1st transaction in Indiana.

M&A Deal Summary

Date 2007-05-18
Target Adorn
Sector Building Materials
Buyer(s) Patrick
Sellers(s) Linsalata Capital Partners
Deal Type Add-on Acquisition

Target

Adorn

Elkhart, Indiana, United States
Adorn is a regional manufacturer of laminated wall panels, hardwood cabinet doors, and other interior components serving manufactured housing and recreational vehicle OEMs in the Midwest with four facilities in Elkhart, Indiana.

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Buyer(S) 1

Buyer

Patrick

Elkhart, Indiana, United States

Category Company
Founded 1959
Sector Building Materials
Employees10,000
Revenue 3.5B USD (2023)
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. 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 2 of 61
Sector (Building Materials) 2 of 16
Type (Add-on Acquisition) 2 of 55
State (Indiana) 1 of 32
Country (United States) 2 of 61
Year (2007) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-31 American Hardwoods

Phoenix, Arizona, United States

American Hardwoods, Inc. is a supplier of hardwood products to the industrial markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-04 Quality Hardwoods Sales - Cabinet Door Business

United States

Quality Hardwoods Sales - Cabinet Door Business is a provider of building products.

Buy -

Seller(S) 1

SELLER

Linsalata Capital Partners

Mayfield Heights, Ohio, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Linsalata Capital Partners is a middle-market buyout firm that targets equity investments in businesses operating in a broad range of industries. Linsalata looks to invest $15 to $50 million in businesses generating at least $5 million in EBITDA. The Firm will consider transactions valued up to $300 million. Target sectors include automotive aftermarket products, building products, business services, aerospace, commercial durables, consumer packaged goods, contract manufacturing services, direct marketing, education, ethnic products, food and beverage, food service equipment, health and safety products, healthcare services and outsourcing, hobby/crafts, home furnishing, home improvement products, industrial products, infastructure products, leisure/recreation, logistics, medical devices and diagnostics, niche apparel, outdoor/garden living, packaging, personal services, pet products and services, and plastics. Linsalata Capital was formed in 1984 and is based in Mayfield Heights, Ohio.


DEAL STATS #
Overall 17 of 41
Sector (Building Materials) 5 of 7
Type (Add-on Acquisition) 10 of 21
State (Indiana) 1 of 1
Country (United States) 17 of 41
Year (2007) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-16 Neff Motivation

Greenville, Ohio, United States

Neff Motivation, Inc. is a manufacturer and marketer of motivational award and apparel products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 Lund International

Suwanee, Georgia, United States

Lund International, Inc. is a designer, manufacturer, and marketer of branded automotive accessories for a full assortment of passenger cars, light trucks, and Jeep, as well as the heavy truck category. Lund International, Inc. products include Ventvisors®, hood shields, PowerstepsTM, floor mats, fender flares, tonneau covers, storage boxes, nerf bars and running boards, among others.

Buy -