Elkhart, Ind.-based supplier Patrick Industries Inc. announced today (Dec. 20) that it has completed the acquisition of the business and certain assets of Performance Graphics, also of Elkhart.
According to a press release, Performance Graphics is a designer, producer and installer of exterior graphics for the recreational vehicle, marine, automotive, racing and enclosed trailer industries.
“The acquisition of Performance Graphics, along with the recent acquisitions of the Praxis Group and A.I.A. Countertops LLC, will allow the company to further expand its penetration into the RV and industrial market sectors and increase its market share and per unit content,” stated Todd Cleveland, Patrick president and CEO. “In addition, the acquisition presents synergistic opportunities not only for the company, but for our customers. We are excited to leverage our operational talent and expertise and financial resources to help Performance Graphics meet our customers’ graphics needs.”
Performance Graphics’ projected annualized 2011 revenues are approximately $1.7 million. The acquisition was primarily funded through borrowings under Patrick’s revolving credit facility. The business will continue to operate on a stand-alone basis under the “Performance Graphics” name in its existing manufacturing facility.
“Performance Graphics is a natural fit with Patrick’s existing RV and commercial businesses, as it affords us the opportunity to enter a new product market with significant potential as a primary local supplier that is not only complementary to our existing product lines, but will bring value to our customers in terms of innovation, price, flexibility and creativity,” said Cleveland. “Additionally, the synergies between our existing talented design department and the creative Performance Graphics team will be an asset to both our customers and our organization.”
Several Elkhart County, Ind., RV manufacturers and suppliers are donating their time, materials and funding to help transform a four-year-old, 84-passenger school bus into an innovative mobile science center.
The “Science-2-GO Bus” is the brainchild of ETHOS (Encouraging Technology and Hands On Science), an affiliate of Elkhart Community Schools.
“Imagine a state-of-the-art science training center that is easily available to Elkhart County students and teachers that gives them the opportunity to explore science in new ways and look at their world through the eyes of a scientist,” said Dana Knapp, a master science teacher with ECS.
That’s what a handful of local firms are creating this winter. The bus is being outfitted with computers, solar panels and other features that will help bring science closer to students and teachers in Elkhart County schools.
The total cost for this community initiative is well over $250,000, sponsors estimate.
Participants include A and R Machine, ASA Electronics, Bayer Corp., Cleer Vision Windows, Dicor Corp., the Elkhart Country Community Foundation, Forest River Inc., Home Energy, Interlink Computers, Jayco Inc., Performance Graphics, Show Hauler Trucks, Summit Fiberglass, Turtle Top and Wiley Metal.
The idea began to evolve more than a year ago and sprouted when the Bayer Foundation came forward with a $64,000 grant. “Several local companies came on board right away, then the economy went down,” explained Patsy Boehler, executive director of ETHOS.
The project was put on hold for nine months, then was revived over the winter.
Boehler contacted the office of northern Indiana Congressman Joe Donnelly, who pointed her in the direction of Dicor Corp. in Elkhart. Dicor staff warmed to the idea and drafted some preliminary designs.
She then contacted the Elkhart Community Foundation and was put in contact with Forest River, which joined the effort and identified some local suppliers who could help on the project.
“It was just amazing how many companies said they could donate things,” Boehler said.
The project got off the drawing board this winter, and the bus is making the rounds to area firms, each modifying the bus using its special skills. The first step was to remove the seats and raise the ceiling by 14 inches.
Thanks to the donations from the local firms, only $19,000 of the original grant has been spent so far. The balance of the grant will help furnish the lab. Boehler anticipates the bus will be completed in March or April.
Phil Tom of Turtle Top, Doug Rhude representing A & R Machine and Dennis Boehler are co-chairmen for the project.