Patrick Industries (PATK) and LCI Industries (LCII) have agreed to merge in an all-stock transaction. The combined entity will be a leading component solutions provider for the outdoor enthusiast, housing, and transportation markets. LCI shareholders will receive 1.2440 shares of Patrick common stock for each LCI share. Post-merger, Patrick shareholders will own approximately 52% and LCI shareholders will own approximately 48% of the combined company. The transaction is expected to generate over $150 million in run-rate cost synergies within three years. The combined company is projected to have approximately $8.1 billion in revenue and $1.0 billion in adjusted EBITDA on a pro forma basis. Andy Nemeth will continue as CEO of the combined company, Todd Cleveland will be Chair, and Johnny Sirpilla will be Vice Chair. The combined company will be headquartered in Elkhart, Indiana. The transaction is expected to close in the first half of 2027, subject to shareholder and regulatory approvals.