Patrick Industries has completed the acquisition of the e-commerce business and aftermarket platform RecPro.
RecPro, based in Indiana, specialises in creating and marketing component products, systems, and solutions for the RV and marine end markets, and operates as RecPro.com.
Patrick Industries estimates RecPro’s 2024 revenues will be approximately $80 million.
“We are excited to announce our acquisition of RecPro, and I am pleased to welcome Mike Waumans Jr and the rest of his team to the Patrick family,” said Andy Nemeth, Patrick CEO. “The addition of RecPro’s leading e-commerce platform meaningfully expands Patrick’s presence in the attractive outdoor enthusiast aftermarket and broadens the foundation of our aftermarket strategy as we seek to leverage our aftermarket product offerings and other product solutions across our RV, marine and powersports portfolio.
We are excited about the opportunity to partner with Patrick.
Mike Waumans Jr, RecPro owner
“We believe RecPro’s passion for growth, commitment to quality customer service, and ability to source and provide value-enhancing product solutions are a synergistic fit within our entrepreneurial business model.”
Mike Waumans Jr, owner of RecPro, added: “We are excited about the opportunity to partner with Patrick and its network of leading brands and look forward to what we can achieve together.
“With our online retail presence and robust customer-service platform, coupled with Patrick’s support of our entrepreneurial culture, we are energised by the opportunity to engage with Patrick’s leaders and portfolio of companies, utilising our expertise and the RecPro platform to enhance Patrick’s aftermarket presence.”
RecPro will continue to operate under its existing brand name and within its current facilities.
The acquisition is expected to be immediately accretive to net income per share.
