Patrick Industries, Inc. Completes Acquisition of G.G. Schmitt & Sons, Inc.

“We believe the marine industry is well-positioned for long-lasting development, and we are thrilled to partner with the G.G. Schmitt group, which has a proven track record of regularly and artistically adapting to changing characteristics in the marine area. “G.G. Schmitt’s brand name platform and extremely crafted items and processes, as well as its longstanding relationships with leading marine OEM clients, have been crucial in broadening its consumer base within the recreational boating market. The Company likewise disperses drywall and drywall finishing products, electronics and audio systems parts, wiring, electrical and pipes products, appliances, cement siding, raw and processed lumber, FRP products, interior passage doors, roof items, tile, laminate and ceramic floor covering, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting items, and other miscellaneous items, in addition to providing transportation and logistics services. Potential aspects that could impact results include: unfavorable economic and service conditions, consisting of cyclicality and seasonality in the industries we offer our products; the deterioration of the monetary condition of our consumers or suppliers; the loss of a substantial client; changes in customer choices; rates pressures due to competition; conditions in the credit market restricting the ability of consumers and wholesale consumers to acquire retail and wholesale funding for RVs, made homes, and marine products; the imposition of restrictions and taxes on imports of raw products and elements utilized in our products; details technology performance and security; any increased expense or limited accessibility of specific raw materials; the effect of governmental and ecological policies, and our inability to comply with them; our level of insolvency; the ability to remain in compliance with our credit contract covenants; the availability and expenses of labor; stock levels of merchants and makers; the ability to create money flow or obtain financing to fund growth; future growth rates in the Company’s core businesses; realization and effect of efficiency improvements and cost decreases; the effective integration of acquisitions and other development initiatives; increases in interest rates and oil and gas costs; the ability to keep crucial executive and management workers; and negative weather conditions affecting retail sales. There can be no assurance that any forward-looking statement will be realized or that real outcomes will not be considerably various from that set forth in such positive declaration.

“G.G. Schmitt’s brand name platform and highly engineered processes and products, as well as its longstanding relationships with leading marine OEM customers, have been critical in broadening its customer base within the leisure boating market. The Company likewise disperses drywall and drywall finishing products, electronics and audio systems elements, wiring, electrical and pipes items, home appliances, cement siding, raw and processed lumber, FRP products, interior passage doors, roof products, tile, laminate and ceramic floor covering, shower doors, furnishings, fireplaces and surrounds, outside and interior lighting products, and other miscellaneous products, in addition to providing transportation and logistics services. Possible factors that could impact results consist of: unfavorable financial and service conditions, including cyclicality and seasonality in the markets we sell our products; the wear and tear of the financial condition of our consumers or suppliers; the loss of a considerable customer; modifications in customer choices; pricing pressures due to competition; conditions in the credit market restricting the capability of consumers and wholesale consumers to get wholesale and retail funding for RVs, made homes, and marine items; the imposition of limitations and taxes on imports of raw materials and parts utilized in our products; info technology efficiency and security; any increased expense or minimal accessibility of particular raw materials; the effect of governmental and environmental guidelines, and our failure to comply with them; our level of insolvency; the ability to stay in compliance with our credit contract covenants; the schedule and expenses of labor; inventory levels of merchants and manufacturers; the ability to produce money circulation or get financing to money growth; future development rates in the Company’s core organisations; realization and effect of efficiency improvements and expense reductions; the successful combination of acquisitions and other growth efforts; increases in interest rates and oil and gas costs; the ability to keep key executive and management workers; and adverse weather conditions affecting retail sales.