Patrick Industries, Inc. has completed the acquisition of Topline Counters, LLC ("Topline"), a designer, engineer, manufacturer and installer of a full suite of natural stone, quartz, laminate and solid surface kitchen and bathroom countertops, serving the single-family and multi-family residential markets as well as the commercial high-rise and big box retail markets. Topline's trailing 12-months revenue through November 2019 was approximately $34 million.
The company expects the acquisition to be accretive to 2020 net income per share.
The acquisition of Topline includes the acquisition of accounts receivable, inventory, machinery and equipment, and prepaid expenses. Patrick will continue to operate Topline on a stand-alone basis under its brand name in its existing facilities.
Patrick Industries, Inc. is a major manufacturer and distributor of component products and building products.
