ELKHART, Ind. (WSBT) — Patrick Industries and Lippert have reached a definitive merger agreement.
This comes after the companies called off merger talks just two months ago.
RELATED: Lippert Industries & Patrick Industries end merger talks
Under the agreement, Patrick Industries shareholders will own 52% of the combined company, while Lippert shareholders will own 48%.
According to a press release, Patrick Industries CEO Andy Nemeth will serve as CEO of the combined company.
Nemeth released a statement, saying:
Today marks the beginning of an exciting new chapter in the evolution of our two companies as we continue on our journey to positively impact and deliver value for our customers, our team members, shareholders, and the communities we serve.
Lippert CEO Jason Lippert stepped down earlier this month.
RELATED: Lippert president, CEO announces retirement
The combined company is expected to be headquartered in Elkhart.
The deal is expected to close by the first half of 2027.
WSBT is working to learn more about the newly approved deal.
