Elkhart's Patrick Industries acquires fifth company in 2016

Vacuplast, also known as L.S. Manufacturing, was acquired by the company for $11 million, according to a press release.

L.S. Mfg., an Elkhart-based company, produces a wide variety of thermoformed plastic parts and components, primarily serving the recreational vehicle market and other industrial markets. L.S. Mfg. had revenues of $12 million through the end of May.

The goal of the acquisition was to continue to help Patrick Industries diversify its manufacturing holdings in an effort to expand their presence in the plastics market.

"The acquisition of L.S. Mfg. allows us to capitalize on its value-added manufacturing capabilities, products, and expertise as a supplier and manufacturer of quality, customized thermoformed plastic products and components," said Todd Cleveland, CEO of Patrick Industries.

In 2015, Patrick industries saw sales increase 31 percent. Sales to the RV industry represented 75 percent of the company's fourth quarter 2015 sales.