Patrick Industries, Inc., a major national component solutions provider, yesterday announced that it had completed the purchase of Elkhart-based Transhield, the world’s leading manufacturer and designer of custom protection solutions for the marine, military, and industrial markets.
Transhield’s protective covers, as well as shrinkable protective packaging, can help customers safeguard their most valuable and critical assets from damage, corrosion, and harsh conditions during storage and transportation, according to a press release.
“We are extremely excited to partner with Jim Glick, Matt Peat, and the entire Transhield team,” said Andy Nemeth, chief executive officer of Patrick.
He said that Transhield’s unique and superior product offerings are a great fit across various industries. Their values, culture, and reputation in the industry for customer care are the perfect fit for their portfolio of businesses and independent brands.
Like previous acquisitions, they will create a financial and operational base that will enable Transhield to maintain its vision for the future and build on its core strengths.
“We look forward to partnering with Patrick and are energized by the growth opportunities that Patrick and Transhield can pursue together, including the expansion of our market presence and leveraging Patrick’s footprint to further develop our aftermarket channel — all while maintaining our brand identity and strong industry relationships,” said Jim Glick, president of Transhield.
The synergies between manufacturing and geography, alignment, and a shared commitment to continual improvement make this an effective partnership right from the beginning,” stated Jeff Rodino, President of Patrick.
The company is excited to use Patrick’s size to aid Transhield’s growth.
The acquisition is anticipated to add to net earnings per share immediately. The company will continue to be run on a stand-alone basis with the Transhield name within its current facilities.