Patrick industries, inc. (nasdaqgs:patk) acquired g. g. schmitt & sons, inc.

Patrick industries, inc. (nasdaqgs:patk) acquired g. g. schmitt & sons, inc. on september 30, 2019. the acquisition of g.g. schmitt includes the acquisition of accounts receivable, inventory, and machinery and equipment, and was funded under patrick industries credit facility. patrick will continue to operate g.g. schmitt on a stand-alone basis under its brand name in its existing facilities. g.g. schmitt trailing 12-months revenue through august 2019 was approximately $20 million. g.g. schmitt team will join patrick industries. patrick industries expects the acquisition to be immediately accretive to net income per share. patrick industries, inc. (nasdaqgs:patk) completed the acquisition of g. schmitt & sons, inc. on september 30, 2019.
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