Elkhart-based Patrick Industries recently completed its purchase of Synergy RV Transport in Goshen.
Patrick, a maker and distributor of component products and building products used by the recreational vehicle, marine, manufactured housing and related industries, said Synergy's 2019 revenue was approximately $46 million.
Synergy uses independent contractors to haul towable/flatbed and motorized RVs from RV plants to dealer lots throughout the U.S. and Canada.
“Synergy is a leading transportation service provider and supply chain partner for its diverse customer base, which includes manufacturers and dealers ranging from nationally known brands to growing mid-size businesses,” said Andy Nemeth, president and CEO of Patrick. “Its success has been built around a customer-centric focus and its ability to serve as a one-stop-shop.”
Nemeth said his firm’s purchase of Synergy represents “an attractive growth opportunity that will allow us to partner with the Synergy team to continue to expand our RV transport platform and network.”
“Consistent with previous acquisitions, we will support Synergy with a financial and operational foundation that will allow it to capitalize on its core competencies while preserving the entrepreneurial spirit that has been so important to its success,” Nemeth said.
Kyle Newcomer and Ben Brunner, co-founders of Synergy, said, Patrick Industries is a great fit for its organization and customers.
“(They) will be a valued resource in support of the further growth of the Synergy brand,” Newcomer and Brunner said in joint statement. “Patrick shares the same vision of striving to provide superior service with a customer-first approach and will help us to continue to expand our business with our existing customers as well as new dealers and manufacturers.”
The deal includes the acquisition of working capital and other assets. Patrick Industries will continue to operate Synergy as a stand-alone organization under its brand name in its existing facilities and transport yards.
