Elkhart's Patrick Industries acquires three marine companies for $73 million

The Elkhart-based company completed the acquisition of Leisure Product Enterprises LLC on Monday and with it secured the manufacturing capabilities of LPE's three subsidiaries, Marine Concepts/Design Concepts, Florida Marine Tanks and Marine Electrical Products, according to a press release. 

LPE primarily serves the marine and industrial markets with combined fiscal 2016 revenues of approximately $75 million. Patrick Industries is a major manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, marine and many types of other industries. 

Patrick purchased LPE for approximately $73.5 million. 

• Marine Concepts, which opened in 1976, has two manufacturing locations in Sarasota, Florida and Cape Coral, Florida. The company designs, engineers and manufactures plugs, composite molds and CNC molds for fiberglass boat manufacturers.