Patrick Industries, Inc. (PATK) Monday announced that it has completed the acquisition of Medallion Instrumentation Systems, a Michigan-based provider of custom instrumentation and vehicle electronics for marine, RV, powersports, on-highway, and military markets. Medallion offers complete system solutions, including digital switching, lighting controls, integrated audio, sensors, wire harnessing, gauges, and touchscreen displays. The company generated approximately $38 million in revenue in 2024.
Patrick Industries CEO Andy Nemeth expressed enthusiasm for integrating Medallion into the company, emphasizing its alignment with Patrick's goal of providing full-solution packages. He highlighted the increasing demand for digital switching, custom LCD displays, gauges, and controllers in the Outdoor Enthusiast market. Nemeth noted that Medallion's engineering, design, and sales expertise, combined with Patrick's mechanical capabilities and customer relationships, would strengthen the company's position in the marine, powersports, and RV markets.
Medallion CEO Jeff Sands expressed enthusiasm about joining Patrick Industries, emphasizing the opportunity to continue delivering high-quality solutions to customers. He highlighted Patrick's experience, resources, and capabilities as key factors that would support Medallion's growth in both existing and underpenetrated markets.
Medallion will maintain its brand name and continue operations at its current facility, in line with Patrick Industries' approach to acquisitions.
PATK is currently trading at $91.5 or 1.47% on the Nasdaq Global Select Market.
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