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Patrick Industries, Elkhart, In., has completed the $11-million acquisition of the business and certain assets of Elkhart-based Nickell Moulding Co., a custom manufacturer of hardwood and wrapped mouldings and trim, custom wood frames, and door components.
The deal included the acquisition of accounts receivable, inventory, machinery and equipment, and was funded under the company’s existing credit facility. Patrick will continue to operate Nickell on a stand-alone basis under its brand name in its existing facility.
George Nickell, founder, and president of Nickell said, “After more than 36 years in business, we look forward to partnering with Patrick, which is a natural fit with our value proposition to the various markets we serve. Our team is energized to continue to drive the business model to further expand our presence and grow our market share.”
Nickell generated 2017 revenue of roughly $21 million.