Patrick Industries to Merge with LCI Industries in a $4.08 Billion Deal

Patrick Industries (PATK) entered a merger agreement on June 30, 2026, to acquire LCI Industries (LCII) in a deal worth $4.08 billion.

Deal Structure:

LCI shareholders will receive 1.244 shares of Patrick common stock for each share of LCI common stock they own, representing a price of $115.92 per LCI share, at a premium of 15.78% from the stock’s last close.

Company Profile:

LCI Industries is a manufacturer and supplier of engineered components for the recreational vehicle (RV), marine, transportation, and adjacent industrial markets. The company serves OEMs and the aftermarket, offering products such as chassis, suspension systems, windows, doors, furniture, electronics, towing equipment, and other vehicle components.

Patrick Industries is a manufacturer and distributor of component products and materials for the recreational vehicle (RV), marine, powersports, manufactured housing, and industrial markets. The company supplies OEMs and aftermarket customers with products including furniture, cabinetry, flooring, electronics, building materials, and other engineered components through its manufacturing and distribution operations.

Deal Details and Timeline:

In April, Patrick Industries announced that it was in discussions with LCI regarding a potential merger of equals. The stock was trading at $123.43 before the announcement. But the companies had terminated discussions as they were unable to reach mutually agreeable terms.

Patrick shareholders are expected to own approximately 52% of the combined company, while LCI shareholders are expected to own about 48%.

Patrick Industries CEO Andy Nemeth will become the CEO of the combined company.

The combined company will have a 12-member Board, with six directors appointed by Patrick and six by Lippert. Patrick Director Todd Cleveland will serve as Chair of the Board, while Lippert Interim CEO Johnny Sirpilla will serve as Vice Chair.

The combined company will have its headquarters in Elkhart, Indiana.

The merger is expected to close in the first half of 2027.

LCI received financial advice from Perella Weinberg Partners and legal counsel from Kirkland & Ellis. Patrick was advised financially by J.P. Morgan Securities and Baird, while McDermott Will & Schulte served as its legal counsel.

Patrick Industries is paying 8.49 times EBITDA for LCI.

Deal Metrics:

For a more in-depth analysis of this merger and acquisition transaction, kindly visit the Deal Metrics page here:
Deal Metrics for the acquisition of LCI Industries (LCII) by Patrick Industries (PATK)

The Deal Metrics page includes detailed information on:

• The spread history chart tracing the journey of the merger from announcement to completion or failure.
• Key events as the merger progresses including the expiration of the HSR period, regulatory approvals, and shareholder votes.
• News updates and SEC filings.
• A comprehensive history of deal updates.
• And much more.

Disclaimer: This article is meant for informational purposes only. Please conduct your own thorough research before making any investment decisions. We do not guarantee the completeness or accuracy of the data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article