Liberty Ridge Advisors Announces the Sale of Topline Counters, LLC
SEATTLE, WA – January 14, 2020 – Liberty Ridge Advisors, LLC is pleased to announce that Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick Industries”), a major manufacturer of component products and distributor of building products and materials for the recreational vehicle, manufactured housing, marine and various industrial markets, has completed the acquisition of Topline Counters, LLC (“Topline”). Patrick Industries will continue to operate Topline on a stand-alone basis under its brand name in its existing facilities. Liberty Ridge Advisors acted as the exclusive financial advisor for Topline.
Headquartered in Elkhart, Indiana, Patrick Industries serves the recreational vehicle, marine, manufactured housing, residential housing, high-rise, hospitality, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets and operates coast-to-coast in various locations throughout the United States and in Canada, China and the Netherlands.
"Topline possesses an excellent reputation in the various industrial markets it serves and has built long-standing relationships with residential home builders, commercial building contractors, kitchen and bath dealers, and big box retail companies based on delivering superior quality products and service," said Todd Cleveland, Chairman and Chief Executive Officer of Patrick Industries. "This acquisition is aligned with our strategic initiatives and capital allocation strategy and we look forward to working with the Topline team to help further drive brand value, growth and synergy realization."
Topline is headquartered in Sumner, Washington with two additional facilities in Spokane, Washington and Vancouver, Washington. Topline provides quality design and installation of a broad array of laminate, solid surface and natural stone products for kitchens and bathrooms.
Josh Hulburt, President of Topline, said, "After more than 15 years growing our business, we look forward to continuing to drive our business model and expanding our market presence with the support of both the Topline team and the Patrick family. We are excited to partner with the Patrick organization, which shares our long-term vision to be a premier high-quality supplier to the markets we serve."
For more information about this transaction, please contact the Liberty Ridge Advisors deal team:
Michael Bennett
Managing Partner
mbennett@libertyra.com
(206) 422-0102
Leif Johnson
Managing Partner
ljohnson@libertyra.com
(206) 683-3814
About Liberty Ridge Advisors
Liberty Ridge Advisors provides merger and acquisition advisory services for Pacific Northwest privately held businesses including capital transactions, mergers, acquisitions and recapitalizations. Liberty Ridge Advisors offers concentrated experience and expertise in key industries including food products, aerospace, building materials and construction, general manufacturing and distribution, wine, and business and financial services. For more information about Liberty Ridge Advisors please visit our website at libertyra.com and connect with us on LinkedIn.
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Investment Banking Services and Securities offered through Independent Investment Bankers Corp. a broker-dealer, Member FINRA/SIPC. Liberty Ridge Advisors, LLC is not affiliated with Independent Investment Bankers Corp
Contact: Michael Bennett, Managing Partner, Liberty Ridge Advisors, LLC
Email: mbennett@libertyra.com
Phone: (206) 422-0102