Patrick Industries announced in a statement that it acquired Wet Sounds, a designer and manufacturer of marine audio systems. Terms of the transaction were not disclosed.
Wet Sounds sells through OEM, dealer and retail channels, as well as direct to customers. The company also makes products for the home audio and powersports markets and aftermarkets.
The company reported 12-month revenues, through September, of approximately $55 million.
“This acquisition is a great fit within our existing offerings of recognizable, high-quality brand companies and provides us with a tremendous opportunity to enhance our position as a value-added component solutions supplier to the marine industry,” Patrick CEO Andy Nemeth said in a statement.
The business will operate under the Wet Sounds brand and remain in its Rosenburg, Texas, facility.
“The Wet Sounds team and I are thrilled to become part of the Patrick family and its independent brand strategy to continue to drive the next phase of our business model and strategic plan and expand our platform and presence in the markets we serve,” said Tim White, president and co-founder of Wet Sounds.
