Patrick Industries announced today that it has completed the acquisition of Hyperform Inc., a manufacturer of high-quality, non-slip foam flooring, operating under the SeaDek brand name, for the marine OEM market and aftermarket. Hyperform also serves the pool and spa, powersports and utility markets under the complementary brands of SwimDek and EndeavorDek (collectively, “SeaDek”). SeaDek operates out of two manufacturing facilities located in Rockledge, Fla., and in Cocoa, Fla., which possess full marketing, laboratory, prototyping, and research and development capabilities. SeaDek had full-year 2020 revenues of approximately $25 million, and the company said it expects the acquisition to be immediately accretive to net income per share.
“We are extremely excited to partner with the industry-leading SeaDek team and continue to build out our portfolio of high-quality marine component suppliers under our full solutions model,” said Andy Nemeth, president and CEO of Patrick. “These three brands specialize in creating innovative and highly functional products that use a high-grade, proprietary blended foam material, offering a safe, durable and comfortable alternative to traditional marine and specialty market flooring products. This acquisition provides significant opportunities for growth in both the OEM market and the aftermarket as well as additional resources and channels to further expand our marine products and accessories offerings to the markets we serve across the U.S. and internationally.”
