Two of the Elkhart area’s largest employers are coming together. The merger of Patrick Industries and Lippert Components is all the buzz around town.
The combined company would generate $8.1 billion in annual revenue, supplying components for RVs and boats while also diversifying more into other industries to protect against cyclical downturns in the economy.
Sherm Goldenberg is senior editor of RVBusiness. He says it’s not yet clear whether Patrick and Lippert could cut any jobs locally.
“This is major news for the industry and the communities involved, and at this early stage, a lot of people are wondering just what this all will mean because it’s simply too early for us to tell," Goldenberg said.
Lippert CEO Jason Lippert announced his retirement earlier this month after 32 years at the company his grandfather Larry founded 70 years ago.
Patrick Industries CEO Andy Nemeth would lead the combined company, whose new name hasn’t been released. The deal would close in the first half of next year, subject to shareholder approval at both companies.
