Investor Presentation
September 2017
Forward-Looking Statements
This presentation contains certain statements related to future results or states our
intentions, beliefs and expectations or predictions for the future which are forward-
looking statements as that term is defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from either historical
or anticipated results depending on a variety of factors. Further information
concerning the Company and its business, including factors that potentially could
materially affect the Company’s financial results, is contained in the Company’s filings
with the Securities and Exchange Commission.
This presentation includes market and industry data, forecasts and valuations that
have been obtained from independent consultant reports, publicly available
information, various industry publications and other published industry sources.
Although we believe these sources are reliable, we have not independently verified
the information and cannot make any representation as to the accuracy or
completeness of such information.
We disclaim any obligation or undertaking to disseminate any updates or revisions to
any forward-looking statements contained in this presentation or to reflect any
change in our expectations after the date of this presentation or any change in
events, conditions or circumstances on which any statement is based.
2
2
0
1
5
Company
taken public
(NASDAQ)
Date of
Incorporation
Patrick History
3
1
9
5
9
Company
founded
1
9
6
1
1
9
6
8
2
0
0
7
Acquired Adorn Holdings, Inc. –
the largest acquisition in the
Company‟s history
2
0
0
8
Todd
Cleveland
named
President („08)
and CEO („09)
Completed
3-for-2
common
stock split
Acquisition Highlights (2010-2016)
31 companies
$411MM aggregate purchase price
$696MM annualized revenues
2
0
0
9
2
0
1
7
Common stock offering
Credit facility expansion to $450MM
Continued strategic investment
2017 Acquisitions
o 6 companies
o $98MM aggregate purchase price
o $113MM annualized sales
2010 - 2016
Founded in 1959 and incorporated in Indiana in 1961
Headquartered in Elkhart, Indiana – the “RV Capital of the World”
Leading national manufacturer and supplier of building and component
products to the RV, MH, marine and select industrial markets
Operates over 85 facilities in 19 states
Approximately 6,500 employees
Listed on the NASDAQ under ticker PATK
Approximately $1.4B in LTM revenue Q2 „17
Acquired 37 companies from 2010 – 2017
$509 million aggregate purchase price
Our vision is focused on continued growth organically and through
strategic acquisitions in all market segments, including marine, as well
as expanding geographical product footprint and reach
Patrick at a Glance
4
Marine
5%
of Patrick‟s Jun-YTD Sales
Industrial
12%
of Patrick‟s Jun-YTD Sales
MH
13%
of Patrick‟s Jun-YTD Sales
RV
70%
of Patrick‟s Jun-YTD Sales
5
Market Platform
Lifestyle & Leisure
Housing & Industrial
6
Differentiated, customer-centric brand strategy and business model
Portfolio of brands enable OEM customers to differentiate their products to consumers
Brands retain significant autonomy to maintain entrepreneurial spirit and brand individuality enabling
continuation of legacy value proposition with the support and opportunity to leverage all of Patrick‟s
resources
Strong Brands
Portfolio of Expertise
Plastics/Thermoforming
Furniture & Sourcing
Solid Surface/Granite
Countertops & Fabrication
Metal Fabrication/Fuel Tanks
Fiberglass Products/Tooling/
Engineering & Design Services
Warehousing/Distribution/
Comprehensive Design Center
Electronics/Appliances
Full/Partial Body Paint
Electrical/Wiring Solutions/
Harnesses/Instrument
Panels/Lighting
Hardwoods/Softwoods/Cabinetry
We have a
tremendous
amount of
product
capabilities
and
expertise,
creating a
strategic
and unique
value
proposition
for our
customers!
Lamination/Custom
Components
7
8
8
Strategically aligned with OEM customers offering a nationwide network
Over 85 facilities in 19 states with
approximately 6,500 employees
Headquarters
Existing Patrick Facility
Patrick Facility Profile
Demographic Trends
Overall camping experiences and RV awareness are driving growth
among younger and more diverse participants
Younger campers looking for affordable recreation experience
38% of all campers are millennials (ages 18-35)
34% of new RVs sold in 2016 were to first time buyers
8 out of 10 of those new buyers were under age 65
Gen X and Millennials helping to drive this growth – making
up 72% of new campers in 2016
9
RV Market
Source: KOA North American Camping Report; RVIA
37.1 million North American households camp at least once a
year and 22% of them are RV campers
3.4 million new households have started camping since 2014
Latino, African American, Asian and other ethnicities
represented 39% of new campers in 2016; 26% of all campers
Faces of New Campers
Favorable Demographic Trends
All
Campers
38% 34% 21% 7%
Growing Camping Activity
Millennials Gen X Boomer Mature
Aged 34 and
Younger - 18%
Aged 35 to 54
- 41%
Aged 55 to
64 - 32%
Aged 65 and
Older - 9%
RV Demand by Age Group
Market Stats
87% of industry 2016 unit sales
61% of estimated 2016 retail dollar sales, or $10.7 billion
Retail cost $5,000 to $160,000+ per unit
Average $29,000
13% of industry 2016 unit sales
39% of estimated 2016 retail dollar sales, or $7.0 billion
Retail cost $43,000 to $500,000+ per unit
Average $127,000
10
RV Market
TOWABLE
MOTORIZED
Source: RVIA 2016 Industry Profile
RV Towable Shipments
11
Source: RVIA 2016 Industry Profile
RV Market
Travel Trailers drive
greater share of market,
fueled by younger, first-
time RV buyers
RV wholesale towable shipments (in thousands)
68%
69%
70%
71%
73%
75%
75%
26%
25%
25%
25%
23%
21%
21%
6%
6%
5%
4%
4%
4%
4%
Travel Trailers Travel Trailers - Fifth Wheel Folding Camping Trailers & Truck Campers
258
283
313
327
222
253
376
Towables
60% 51% 48% 46%
46%
33% 37%
38% 40%
40%
7%
12%
14%
14%
14%
2012 2013 2014 2015 2016
Conventional Travel Trailers
28'+ 20' - 28' Under 20'
81% 82%
84% 84% 82%
18%
16%
14% 14%
17%1% 2%
2% 2%
1%
2012 2013 2014 2015 2016
Fifth Wheel
30' + 25' - 30' Under 25'
66
71
76 75
80
177
197
223
239
282
RV Motorized Shipments
12
Source: RVIA 2016 Industry Profile
RV wholesale motorized shipments (in thousands)
RV Market
Class C motorized units drive
greater share of market,
fueled by younger, first-time
RV buyers
51%
50%
50% 46% 42%
42% 36%
41%
44%
43%
47%
51%
51%
55%
8%
6%
7%
7%
7%
7%
9%
Conventional (Class A) Mini (Class C) Van Campers (Class B)
28
38
44
47
32
37
55
Motorized
34% 30% 30%
31% 25%
26%
23%
27% 27%
28%
40%
47%
43% 42% 47%
2012 2013 2014 2015 2016
Class A
38'+ 35' - 38' Under 35'
15
19
22 22 23
43%
42% 38% 33%
33%
16%
13% 14% 13%
13%
41%
45%
48%
54%
54%
2012 2013 2014 2015 2016
Class C
30' + 26' - 30' Under 26'
12
17
19
22
28
RV Shipment Trends
Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Jul-17
Wholesale Retail
Retail unit shipment growth has consistently been in line with or
exceeded wholesale unit shipment growth
July adjusted retail is up 14% YTD, aligned with wholesale growth
Dealer inventory channels are balanced and well-positioned
Used inventories are low and order books from OEMs are strong
2016
Retail +10%
Wholesale +11%
2017 Jul-YTD
Retail +14%*
Wholesale +14%
2015
Retail +14%
Wholesale +5%
RV Market
*2017 Retail growth includes company estimated adjustment
Source: RVIA, SSI
13
4.2% 4.3% 4.8% 3.9%
6.1%
7.9%
0.9%
4.7%
19.8%
15.5%
13.6%
11.6%
14.5%
17.3%
9.9%
14.0%
Jan Feb Mar Apr May Jun Jul Jul-YTD
2017 Retail Unit Growth Compared to 2016
Initially Reported Subsequently Reported
RV Retail Shipments
Retail shipments are reported monthly and updated in the subsequent
months as additional registrations are reported
On average, subsequent registrations result in ~10% increase compared to
initially reported figures
RV Market
14
Source: SSI, Company estimates
173
163
203
228
+21%
259
247 248
255
293
+24%
321
300
257
311 321
370
384
+22%
391
353
237
166
242
252
286
321
357
374
431
480
RV Wholesale Unit Shipments
Consumer Confidence RV Annual Shipments
Industry Outlook
15
Gulf War
9/11 Attacks
Residential
Housing Crisis
It is our belief that trended shipment levels indicate continued potential for future growth trajectory based
on current demographic indicators, discipline in the space, overall economic conditions and resilience and
strength of the leisure lifestyle. Additionally, average shipment increases over each of the last prior peaks
point to an extended runway with potential in excess of 550,000 units.
(shipments in thousands)
RV Shipments Source: 1990 – 2017F RVIA; 2018 - 2020F Company Estimates
+5%
annual
growth
RV Market
Strong consumer confidence
Relatively low interest rates
Lower, stable fuel prices
Credit availability
Favorable employment and
wage trends
Strength in equity and housing
markets
Canadian markets showing
signs of improvement
Continued Favorable
Macro Environment
555
Affordable Form of Home Ownership
Average structure cost per sq. ft. (2015) $47.55 (MH) vs.
$100.65 (single family home)
Average MH retail price (2015) $68,000 for 1,430 sq. ft.
(home only)
Overview MH Market
Statistics
Approximately 9 million households with 22 million
people living in manufactured homes (9% of
nation’s single family housing stock)
80% of all new homes sold under $150,000 are MH
Manufacturing
Flexible production process allows for more custom
features at lower cost
Engineered for wind safety and energy efficiency based
on geographic region
Source: Manufactured Housing Institute (MHI)
16
193
168
131 131
147
118
96
82
50 50 52 55
60 64
71
81
93 124
142
MH Wholesale Unit Shipments
MH Units MH % of Single Family Home Starts
Industry Outlook
17
Source: 1990-2016: MHI; 2017F - 2020F Company Estimates, NAHB
The MH industry continues to perform at historical lows reflecting the residual impacts from the
residential housing market crash, including tight credit standards and lending. We believe, however,
that there is pent-up demand and significant upside potential for this market based on current
demographic trends, including multi-family housing capacity and improving consumer credit and
financing conditions, among other factors.
(shipments in thousands)
MH Market
+10%
annual
growth
+15%
annual
growth
Statistics
36% of the U.S. adult population participated in
recreational boating in 2016
Estimated 141.6 million people went boating in 2016
11.9 million registered powerboats in the U.S.
Overview Marine Market
Outdoor Recreational Lifestyle
Continued core recreational boater demand
Three most popular boating activities: fishing,
swimming & entertaining
Active, outdoor lifestyle continuing to grow, allowing
for more time spent with family
Trends Influencing the Market
Average age of registered boats continues to increase
Innovative, versatile boats helping new generations
become boaters
Younger demographics and families allocating more time
to leisure activities
Source: National Marine Marketing Association
18
Retail Powerboat Trends
The traditional powerboat market continues to recover with 2016 estimated
to be the 6th consecutive year of steady annual growth
Average selling price (“ASP”) has steadily increased as OEMs continue to
add content to boats
Marine Market
Source: National Marine Marketing Association, 2016E is Company estimate
19
-49% 2%
13%
9%
12%
5%
6%
$25,000
$30,000
$35,000
$40,000
$45,000
$4
$6
$8
$10
$12
2006 2010 2011 2012 2013 2014 2015 2016E
AS
P
$
in
tho
us
an
ds
Re
tai
l $
in
bi
llio
ns
Traditional Powerboat Retail Market
Market Size ASP
Total Units Sold 298.1 142.3 142.8 157.3 161.2 171.5 183.1 194.1
(in thousands)
YoY Change -52% 0% 10% 2% 6% 7% 6%
//
-
100,000
200,000
300,000
400,000
500,000
600,000
19
65
19
66
19
67
19
68
19
69
19
70
19
71
19
72
19
73
19
74
19
75
19
76
19
77
19
78
19
79
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
E
20
17
F
U.S. Marine Outlook
Industry
Volume
Source: National Marine Marketing Association (traditional powerboat retail excluding jet boats), 2016E and 2017F are Company estimates
1965-1991
Average 400,000
1992-2006
Average 309,000
The U.S. marine market continues its steady recovery with the potential for a long
runway of steady growth with leisure lifestyle attractiveness and an aging
inventory of used boats
20
Marine Market
Big Box Retail
Kitchen cabinets
Office furniture
Electronics distribution
Polymer-based wall panels, adhesives and accessories
Non-Residential End-Markets
Industrial Market
Retail and Commercial Fixtures
Store fixtures
Slotwall
Casework and office furnishings
Solid surface countertops
Office, Hospitality, Schools & Universities
Office furniture
Cabinets
Solid surface countertops
Polymer-based wall and ceiling panels and other accessories
21
Our current non-residential industrial strategy is to leverage our manufacturing and distribution
capabilities, geographic footprint and product expertise to penetrate adjacent markets and identify
new sales channels
554
587 609
781
925
1,003
1,112
1,174
4,340
4,190
4,260
4,660
5,090
4,940
5,250
5,450
3,900
4,100
4,300
4,500
4,700
4,900
5,100
5,300
5,500
400
500
600
700
800
900
1,000
1,100
1,200
1,300
Existing Hom
e Sales (000's)Ne
w
Hou
sin
g
Start
s
(0
00'
s)
Growth in Housing Market Driving Demand
New Housing Starts Existing Home Sales
Residential End-Markets
22
Approximately half of the Company‟s industrial revenue base is tied directly to the residential housing
market (new construction and remodel)
Product Lines:
• Kitchen cabinets and components
• Household furniture
• Solid surface countertops
Our sales to the industrial market generally lag new residential housing starts by six to nine months
New housing starts are well below the prior peak and there continues to be pent-up demand, providing
continued runway in new housing market
Sources: New Housing Starts - U.S. Census Bureau; Existing Home Sales – National Association of Realtors; NAHB (as of August 21, 2017)
Industrial Market
Use strong cash
flow to reduce debt
and reload growth
capacity
23
Maintain efficient
and flexible
balance sheet
through measured
use of leverage to
drive growth and
strong ROE with
prepayable debt
Invest in internal
growth and cost
savings
opportunities
including
geographic
locations, product
extensions and
infrastructure
Return excess
capital to
shareholders
through share
repurchases
Execute
disciplined
strategic
acquisition
program
Our capital allocation strategy is centered around the utilization of
our leverage and capital resources to grow and reinvest in the
business model
Focused Capital Allocation
Cash Flow Generation and Growth
($ in millions)
24
$22
$46
$66
$97
2013 2014 2015 2016
Cash Flows from
Operating Activities
Cash Flows from Operating Activities
$51
$65
$87
$96
2013 2014 2015 2016
Working Capital
Working Capital
$14
$39
$58
$82
2013 2014 2015 2016
Free Cash Flow
Free Cash Flow
Strong free cash flow generation provides flexibility across
operational, financial and strategic objectives
Free cash flow is calculated as operating cash flow less capital
expenditures
Working capital is calculated as current assets (excl. cash) less
current liabilities (excl. current maturities of long-term debt); deferred
tax assets are excluded from working capital given new accounting
standard adopted by the Company in Q1 2016
Acquisition Strategy
Expand into adjacent markets to further
leverage core manufacturing and
distribution capabilities, gain new growth
platforms and diversify end-market
exposure
Introduce new, innovative product lines
complementary to core competencies
Cross sell extensive product catalog to
customer base
Increase content per unit
Leverage management capabilities
Provide “Good” / “Better” / “Best”
Product Offerings
Solid management teams
Strong customer and supplier
relationships and operational talent
High quality product lines
Strong growth potential
Strategic value proposition
Any size but very fine filter for large
opportunities
Allow creative entrepreneurial spirit to
continue to thrive
Retain brand name given customer equity
Provide capital, administrative and
operational support
where needed
Capture cost synergies
Drive revenue synergies through sales
coordination across broader Patrick
customer base
Goals Target Attributes Integration Model
25
Geographic and Product Expansion
1
2
3
4
5
PACIFIC NORTHWEST 1
SOUTHERN
CALIFORNIA
• Lamination
• Aluminum
• FRP
• Fiberglass
• Paint
• Solid Surface
• Hardwood Products
• Pressed Products
• Industrial
• Interior Doors
TEXAS SOUTHEAST NORTHEAST
• Softwoods
• Paint
• Solid Surface
• Hardwood Products
• Pressed Products
• Softwoods
• Hardwood Products
• Industrial
• Lamination
• Fiberglass
• Solid Surface
• Softwoods
• Fiberglass
• Solid Surface
• Hardwood Products
• Slotwall Products
2
3 4 5
Focus on expansion opportunities with $160MM market potential, while
minimizing any potential risks or pitfalls
26
$2.5
$4.2
$0.3 $1.4
$2.4
$7.9
$8.7
$6.5
$8.0
$15.4
$16.0
$4.0
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017F
Capital Expenditures
We will continue to invest in our infrastructure to drive efficiency
and capacity and flex our capital spend when necessary to align
with our demand levels
($ in millions)
Strategic Capital Spending:
New Process / Automation
Increased Capacity
Increased Efficiencies
27
Potential
additional
strategic capex
Leverage Capacity
28
We expect to continue to utilize our leverage and cash flow in alignment with our capital allocation
strategy. Our strong free cash flow, combined with our recent equity offering and increased credit
facility, provide us with ample dry powder to continue our strategic growth initiatives.
Target Leverage Range
0.0
1.0
2.0
3.0
4.0
5.0
To
tal
C
on
so
lida
ted
L
eve
rag
e
$30MM of
Acquisitions
$17MM of
Acquisitions
$72MM of
Acquisitions
$139MM of
Acquisitions
$10MM of
Acquisitions
& $94MM
Equity
Offering
$140MM of
Acquisitions
$74MM of
Acquisitions
Appendix
$437
+36%
$595
+24%
$736
+25%
$920
+33%
$1,222
2012 2013 2014 2015 2016
Sales Growth
Sales
Sales & Earnings Growth
Sales continue to grow and outpace their respective markets, driven by
acquisitions, new products and extension growth and market share gains
Net Income and EPS continue steady growth driven by the following:
Leveraging of fixed costs
Tight management of controllable expenses
Realized cost synergies from acquisitions
Share buyback program
*2012 net income excludes the benefit of the income tax credit associated with NOLs - $7MM or $0.43 per diluted share
($ in millions except per share data)
$21
+13%
$24
+28%
$31
+38%
$42
+32%
$56
$1.33
+11%
$1.49
+ 9%
$1.91
+42%
$2.72
+34%
$3.64
2012* 2013 2014 2015 2016
Earnings Growth
Net Income Diluted EPS
30
Content per Unit
Our focus on strategic acquisitions and organic growth have resulted in significant
increases in our content per unit and sales outpacing our respective markets
RV and MH content per unit increase of 9% and 16%, respectively in Q2 2017
compared to 2016
Strategic Growth Initiatives
Acquiring new product lines and strong management teams
Developing new innovative product lines
Geographic expansion
Entering adjacent markets
*100% market share in existing products would yield the ‘total potential’ content per unit amount
RV Content per unit re-stated excluding marine sales $’s
31
$1,217
$1,410
$1,682
$1,930
$2,103
$6,300
RV Content per Unit
(Calculated on TTM basis)
$1,585 $1,592
$1,790 $1,827
$2,113
$6,900
MH Content per Unit
(Calculated on TTM basis)
Acquisition Summary by Year
32
2010 Acquisition Highlights 2014 Acquisition Highlights
• 2 companies • 7 companies
• $6MM aggregate purchase price • $72MM aggregate purchase price
• $22MM annualized sales • $126MM annualized sales
• Primarily RV market-based • Primarily RV market-based
2011 Acquisition Highlights 2015 Acquisition Highlights
• 3 companies • 4 companies
• $7MM aggregate purchase price • $140MM aggregate purchase price
• $26MM annualized sales • $233MM annualized sales
• Primarily RV & Industrial market-based • Primarily RV market-based
2012 Acquisition Highlights 2016 Acquisition Highlights
• 4 companies • 8 companies
• $30MM aggregate purchase price • $139MM aggregate purchase price
• $80MM annualized sales • $167MM annualized sales
• Primarily RV market-based • RV, MH & Industrial market-based
2013 Acquisition Highlights 2017 Acquisition Highlights
• 3 companies • 6 companies
• $17MM aggregate purchase price • $98MM purchase price
• $42MM annualized sales • $113MM annualized sales
• Primarily RV market-based • Marine, RV, MH & Industrial market-based
Acquisition Summary
2010 2011 2012
Quality
Hardwoods
Sales
Blazon
International
Group
The Praxis
Group
A.I.A.
Countertops,
LLC
Infinity
Graphics
Décor Mfg.,
LLC
Gustafson
Lighting
Creative Wood
Designs, Inc.
Middlebury
Hardwood
Products, Inc.
Date of Acquisition: 01/2010 08/2010 06/2011 09/2011 12/2011 03/2012 07/2012 09/2012 10/2012
Final Purchase Price: $2.0 $3.8 $0.5 $5.5 $1.3 $4.3 $2.8 $3.0 $19.8
Annualized Revenue
(from Date of Acquisition):
$2.0 $20.0 $4.0 $20.0 $2.0 $17.0 $12.0 $18.0 $33.0
Segment: Manufacturing Distribution Distribution Manufacturing Manufacturing Manufacturing Distribution Manufacturing Manufacturing
Industry: RV RV & MH RV RV & Industrial RV & Industrial RV RV RV
RV, MH &
Industrial
Overview of Products: Cabinet Doors
Wiring,
electrical,
plumbing, and
other building
products
Painted
countertops,
foam products,
and furniture
products
Solid surface
countertops,
backsplashes,
tables, and
signs
Designer,
producer, and
installer of
exterior
graphics
Laminated and
wrapped
products
Interior and
exterior lighting
products,
ceiling fans and
accessories
Hardwood
furniture
including
interior
hardwood
tables, chairs,
and dinettes
Hardwood
cabinet doors
and other
hardwood
products
Acquisition:
33
($ in millions)
Acquisition Summary
2013 2014 2015
Frontline Mfg.,
Inc.
Premier
Concepts, Inc.
West Side
Furniture
Precision
Painting Group
Foremost
Fabricators,
LLC
PolyDyn3, LLC
Charleston
Corporation
Better Way
Partners, LLC
Structural
Composites of
Indiana, Inc.
North American
Forest
Products &
North American
Moulding
Date of Acquisition: 09/2013 09/2013 09/2013 06/2014 06/2014 09/2014 11/2014 02/2015 05/2015 09/2015
Final Purchase Price: $5.2 $2.6 $8.7 $16.0 $45.4 $1.3 $9.5 $40.5 $20.0 $79.7
Annualized Revenue
(from Date of Acquisition):
$15.0 $10.0 $17.0 $28.0 $75.0 $2.5 $20.0 $50.0 $18.0 $165.0
Segment: Manufacturing Manufacturing Distribution Manufacturing
Manufacturing
& Distribution
Manufacturing Manufacturing Manufacturing Manufacturing Manufacturing
Industry:
RV, MH &
Industrial
RV, MH &
Industrial
RV RV RV RV RV RV
RV, Marine &
Industrial
RV, MH &
Industrial
Overview of Products:
Fiberglass bath
fixtures
including tubs
and showers
Solid surface
countertops
Recliners,
mattresses,
other furniture
products
Exterior full
body painting
Fabricated
aluminum
products, fiber
reinforced
polyester (FRP)
sheet & coil
Fabricated
simulated wood
and stone
products
Fiberglass and
small plastic
components
Fiberglass
components
Fiberglass front
and rear caps
and roofs and
other specialty
fiberglass
components
Profile wraps,
custom
mouldings,
laminated
panels,
raw/processed
softwood
products,
trusses,
industrial
packaging
materials
Acquisition:
34
($ in millions)
Acquisition Summary
35
($ in millions)
2016 2017
Parkland
Plastics
The Progressive
Group
Cana Cabinetry
Mishawaka
Sheet Metal
L.S.
Manufacturing,
Inc.
BH Electronics,
Inc.
Sigma Wire &
KRA Intl.
Medallion
Plastics, Inc.
Marine
Concepts
Marine
Electrical
Products
Florida Marine
Tanks
Wire Design Baymont
Date of Acquisition: 02/2016 03/2016 05/2016 06/2016 07/2016 07/2016 12/2016 03/2017 07/2017 09/2017
Final Purchase Price: $25.2 $10.9 $16.5 $14.0 $11.2 $35.0 $26.1 $10.0 $10.9 $3.4
Annualized Revenue
(from Date of Acquisition):
$30.0 $23.0 $18.0 $28.0 $12.0 $35.0 $21.0 $20.0 $10.0 $8.0
Segment: Manufacturing Distribution Manufacturing Manufacturing Manufacturing Manufacturing Manufacturing Manufacturing Manufacturing Manufacturing Manufacturing Manufacturing Manufacturing
Industry: RV & Industrial RV & Industrial MH & Industrial RV & Industrial RV & Industrial Marine
RV, Marine &
Industrial
RV & Industrial
Marine &
Industrial
Marine
Marine &
Industrial
RV, Marine &
Industrial
MH & Industrial
Overview of Products:
Polymer-based
products
including wall
panels, lay-in
ceiling panels,
coated & rolled
floors,
protective
moulding
Electronics
Custom
cabinetry
including
hardwood and
MDF doors,
door fronts and
mouldings
Fabricated
aluminum
products,
aluminum
alloys,
galvanized and
hot rolled steel
in common
gauges and
pattern sizes
Thermoformed
plastic parts and
components,
including shower
surrounds/bases
Thermoformed
dash panel
assemblies,
center consoles
and trim
panels,
electrical
systems
PVC insulated
wire and cable
products, wire
harnesses and
associated
assemblies
Thermoformed
dash and trim
panels, fender
skirts, interior
packages,
bumper covers
and hoods
CNC plugs and
molds,
composite
molds (open
and closed),
gelcoat and
fiberglass parts
and assemblies
Wire
harnesses,
fiberglass and
fiberglass
reinforced
thermoformed
helm systems,
dash panels,
and instrument
panels
Manufactures,
fabricates, and
assembles
aluminum fuel
and holding
tanks
Manufactures
wire harnesses
Manufacturer
and supplier of
fiberglass
showers, tubs,
and tile
systems
$75.0
Acquisition:
Leisure Product Enterprises, LLC
05/2017
$73.5
Product Overview
Class A Class B Class C
ASP $175,304 $112,732 $90,482
2016
Wholesale
Units
22.7K 4.1K 28.0K
2016
Market Size
$4.0B $0.5B $2.5B
Length 21 – 40 feet 16 – 22 feet 21 – 35 feet
General
Description
Built on a heavy
truck chassis
Diesel and Gas
models feature
different
performance
capabilities
Spacious living
quarters with
luxury features
Ability to tow a
small vehicle
Built by adding
taller roof and
amenities to
existing van
Easy to maneuver
Home-like
features are
standard
Typically
manufactured in
limited quantities
Built on medium
truck chassis
Similar features
and amenities to
Class A models
Slideouts
available in
certain models,
creating option for
expanded living
space
Motorized
Fifth Wheel
Travel Trailer
Conventional
Travel Trailer
Folding
Camper
Trailer Truck Camper
ASP $50,234 $23,008 $11,147 $26,233
2016
Wholesale
Units
80.4K 282.3K 10.2K 3.1K
2016
Market Size
$4.0B $6.5B $0.1B $0.1B
Length 21 – 40 feet 12 – 35 feet 8 – 24 feet 8 – 20 feet
General
Description
Certain models
offer as many
as four
slideouts
Toy Haulers
have become
increasingly
popular with
active sports
enthusiasts
Smaller and
lightweight
composite
models can be
towed by mid-
size or family
vehicles
Home-like
features such
as dining,
bathroo and
entertainment
Slideouts
available on
certain models,
creating option
for expanded
living space
Appeal to
budget-
conscious
RVers looking
for roomy
living quarters
Compact size
allows for easy
storage and
setup
Limited
standard home
amenities
compared to
other models
Economical
option for
camping trips
Easily detachable,
allows owner to
use truck
separ tely while
at destination
Minimal amenities
compared to other
models
Towables
RV Market
Source: RVIA 2016 Industry Profile
36
Patrick Product Lines – RV Interior
37
Additional Supplied Products:
Exit Lighting
Ceiling Fans
Power Cords & Inlets
RV Tank Heater Pads
Fire Extinguishers
Electric Fireplaces
Wiring, Electrical & Plumbing Products
Inverters
Tire Pressure Monitors
Electrical Switches, Receptacles, and Outlets
RV Transfer Switches
Battery Selector Switches
Cut to size, boring, foiling & edge-banding
Flooring Adhesive
Instrument Panel
Made-to-order laminated products including vinyl,
paper, veneers and high pressure laminates (HPL)
Electronics
Speakers
Microwaves
Furniture
Mattresses
Laminate &
Ceramic
Flooring
Closet
Hardware
Vanity Mirrors
Lighting
Closet & Passage Doors
Countertops
Drawer
Fronts &
Sides
Laminated Panels &
Printed Vinyl
Backsplashes
Hardwood
Accessories
Window Trim
Fiberglass Bath Fixtures
& Shower Doors Kitchen & Bath
Faucets & Sinks
Slide trim – foam,
hardwood, wrapped
Under
Cabinet
Lighting
Tile
Cabinet
Hardware
Dinettes,
Tables &
Chairs
Cabinet Doors
Patrick Product Lines – RV Exterior
38
Exterior Speakers
Paint & Paint
Mask
LED Lighting
Aluminum &
FRP Side
Walls
Laminated Side
Walls
Additional Product Lines:
Softwoods
Full Body Paint
Aluminum Gauges
Steel Gauges
Mill Finish & Pre- Painted
Aluminum and Steel
Slit & Embossed Steel
FRP Coil & Sheet
Motion Sensing
Lights
RV Power
Cords & Inlets
RV Grills & Accessories
Front and
Rear Caps
Bow Trusses
Patrick RV Products Growth Potential
39
Heating,
Ventilating,
Air Conditioning
Window
Coverings
Rolled Flooring
Bedding
Exterior
Mirrors
Carpeting
Windshield
Wipers
Holding Tanks
Captains
Chairs
Appliances
Toilets/Plumbing
Water Heaters
Gauges
Dashboards &
Components
Hardware
Tires & Rims
Roofing
Insulation
Aluminum
Framing
Patrick Product Lines – MH
40
Interior & Exterior Decorative
Lighting Fixtures
Interior Passage
Doors
Kitchen & Bath
Faucets & Sinks
Gypsum (Drywall &
Drywall Finishing
Products)
Laminate & Ceramic Flooring
Fiberglass Bath Fixtures & Shower
Doors
Cabinet Doors &
Components
Microwaves
Countertops
Electronics
Additional Supplied Products:
Building Arches
Closet Organization Products
Sealants
Innovative Lighting
Electrical Components
• Panels/Breakers
• Outlet Boxes
• Switches/Receptacles
Fireplaces and Surrounds
Made-to-order laminated products including
vinyl, paper, veneers and high pressure
laminates (HPL)
Cut to size, boring, foiling & edge-banding
Solid Surface, Granite and Quartz Fabrication
Flooring Adhesive
Tables & Signs
Roof Trusses
Siding
Shingles • Ventilation System & Ridge Cap
• Felt Paper
• Ice & Water Protection
• Drip Edge
• Flashing
• Roofing Membrane
• Soffit & Fascia
Wrapped Profile Moldings Plumbing Products
Backsplashes
Recessed Lighting
Fluorescent Lighting
Wiring/Electrical
Products
Ceiling Fans
Medicine
Cabinets
Under Cabinet
Lighting
Tile
Printed Vinyl
Trusses
Patrick MH Products Growth Potential
Composite
Decking
Carpet &
Carpet Pad
Hardware
Alternative
Roofing
Insulation
Lumber
Windows
Additional Supplied Products:
• Water Heaters
• Appliances
• Toilets/Plumbing
• HVAC
Solar Panels
Brackets/Braces &
Hardware
41
Marine Products
Aluminum Fuel &
Holding Tanks
Boat Hull Design & Tooling
42
Aluminum Fuel &
Holding Tanks
Electronics
Dash Assemblies
Wire Harnesses
Wire Screens
Helms
Dash Assemblies
Electronics
Marine Growth Potential:
Wind Shields (Glass)
Plastic fuel & holding tanks
Fuel system related components
Plastic seat bases and components
Vinyls (biminis, covers)
Fabricated & extruded aluminum
Decking, flooring, carpet, vinyls
Gauges, instrument panels, displays
Lighting
Steering and throttle controls
Accessories
Wire Harnesses