PATRICK INDUSTRIES Business Summary

Patrick Industries Inc. (PATK) is a leading component solutions provider for the recreational vehicle (RV), marine, powersports, and housing markets, generating revenue through a dual-segment model of manufacturing and distribution. The Manufacturing segment, which produces the majority of the firm's revenue, specializes in decorative vinyl and paper laminated panels, cabinet doors, fiberglass bath fixtures, and wiring harnesses, while the Distribution segment manages the sale of third-party appliances, electronics, and building materials. As of February 2026, the company’s revenue mix is led by the RV sector (43%), followed by Housing (29%) and Marine (16%), with a strategic focus on increasing "content-per-unit" through vertical integration. Patrick Industries competes primarily with LCI Industries (Lippert), UFP Industries, Brunswick Corporation, and Thor Industries, maintaining a dominant market position as a Tier-1 supplier that leverages a massive M&A pipeline to consolidate fragmented component markets. The company was founded in 1959 by Mervin D. Lung and is currently managed by a leadership team with deep operational roots in Elkhart, Indiana. Chairman and CEO Andy L. Nemeth, who joined the company in 1991, has overseen a period of significant expansion, supported by President Jeffrey M. Rodino, who was appointed to his role in October 2025. Following a leadership transition in January 2026, Matthew S. Filer serves as the Chief Financial Officer, while Hugo E. Gonzalez acts as the Executive Vice President of Operations and COO. The board of directors includes notable industry figures such as former CEO Todd M. Cleveland and Natalie A. Brown, the CEO of Mesirow Financial. With institutional ownership at approximately 93%, including significant positions held by firms like Tontine Capital, the executive team is focused on a "full solutions" strategy that integrates advanced automation and an expanding aftermarket presence.