Lippert parent LCI Industries confirmed that it is in discussions with Patrick Industries regarding a possible merger of equals. The deal would bring significant changes to the supply chain for U.S. and other boatbuilders, as both companies have major holdings in the industry.
“These discussions are ongoing,” LCI Industries said in a statement, “and there can be no assurances that such discussions will result in a transaction or on what terms any transaction may occur. LCI Industries does not intend to comment further unless and until it determines further disclosure is appropriate.”
Patrick Industries also issued a statement concerning ongoing discussions. In the statement, the company said, “There can be no assurance that any transaction will result from these discussions or on what terms or structure any transaction may occur. Patrick does not intend to make additional comments regarding these discussions unless and until a formal agreement has been reached or discussions have been terminated.”
The companies supply a range of components across the marine, RV and powersports industries. Among Patrick’s marine holdings are Diamondback Marine, Lillipad Marine, SeaDek, Marine Concepts and XTCRBN. LCI’s marine portfolio includes Trend Marine, Taylor Made, Lewmar and others.
LCI Industries reported strong fourth-quarter and fiscal 2025 results, posting double-digit sales growth and sharp gains in profitability as the company benefited from higher RV OEM demand, acquisitions and pricing actions tied to material costs. The Elkhart, Ind.-based supplier said fourth-quarter net sales increased 16% to $932.7 million, up from $803.1 million a year earlier.
Patrick Industries announced its fourth-quarter financial results in February. Net sales increased 9% year-over-year to $924 million, and 6% to $4 billion for the full year. The company reported free cash flow of $246 million for the year.
Patrick’s marine segment revenue was up 24% from the previous-year quarter to $150 million, driven largely by a successful model-year changeover. The revenue represented 16% of net sales for the fourth quarter.
