Patrick Industries completed the acquisition of Nashville, Ga.-based Coyote Mfg., a designer, fabricator and manufacturer of steel and aluminum products, including boat trailers, towers, T-tops, leaning posts and other custom components, primarily for the marine OEM market.
“Coyote is a high-quality creative brand in the marine market known for its product innovation, customized style and superior customer service,” said Andy Nemeth, CEO of Patrick. “Coyote’s marine components complement Patrick’s growing portfolio in the OEM market, while offering the potential for expansion into other leisure lifestyle markets. In keeping with our full solutions business model, our partnership with Coyote will provide additional resources and a wide breadth of marine products to better serve our customers across the U.S.”
David Money, co-owner of Coyote, said, “The Coyote team is very pleased to join the Patrick family and we look forward to partnering with Patrick to continue to drive innovation with our product offerings, in addition to further broadening our geographic reach.”
Tony Lanier, also co-owner of Coyote, said, “Patrick’s strategic resources and marine industry presence will add value to our team’s ongoing commitment to excellence.”
“We are excited to partner with David and Tony and the entire Coyote team,” said Nemeth. “Consistent with previous acquisitions, we will support Coyote with a financial and operational foundation that will allow it to continue to capitalize on its core competencies while preserving the brand and entrepreneurial spirit that have been so important to its success.”
The acquisition is expected to be immediately accretive to earnings per share. The business will continue to operate on a stand-alone basis under the Coyote brand name in its existing facility.