The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Nov 1, 2017
ELKHART, Ind.—Patrick Industries Inc. announced it has completed acquisition of the business and certain assets of Elkhart, Indiana-based Indiana Transport Inc., a leading transportation and logistics service provider primarily to original equipment manufacturers and dealers in the recreational vehicle market. The company projects Indiana Transport's full-year 2017 revenues to be about $100 million and expects the acquisition to be immediately accretive to 2017 net income per share.
Indiana Transport utilizes independently-contracted drivers to haul travel trailers, fifth wheels, gooseneck trailers and utility trailers, from RV OEM plants to dealer lots across the country. In addition, over the last several years, Indiana Transport has expanded its service offerings to include the transportation of recreational watercraft.
"Indiana Transport has quickly evolved into an industry-leading transportation service provider to the RV industry," Patrick Industries CEO Todd Cleveland says. “Its success is built around its customer-centric focus, quick turnaround times, cutting-edge information technology platform and the value of its superior service. Indiana Transport, whose diverse customer base includes manufacturers and dealers ranging from nationally known brands to growing mid-size businesses throughout the continental U.S. and Canada, represents an attractive growth opportunity that complements our strategic initiatives in the RV and marine markets."
"This acquisition will provide Patrick with the ability to partner with Indiana Transport's team, its talent, logistics expertise and resources to establish a leading RV transportation operation," Patrick Industries President Andy Nemeth says. “In addition, we have the opportunity to establish new relationships with major RV and marine dealers as an extension of our value proposition to these markets while further increasing our content per unit in the RV and marine spaces. Consistent with previous acquisitions, we will support Indiana Transport with a financial and operational foundation that will allow it to capitalize on its core competencies while preserving the entrepreneurial spirit that has been so important to its success."
"Patrick is a great fit for our operation and for our customers and will be a valued resource in the further growth of the Indiana Transport brand, both within our core towables market and in non-RV markets,” Indiana Transport President and Founder Charlie Roeder says. “Our team is extremely excited to partner with the Patrick organization which shares the same vision of striving to provide superior service with a customer-first approach and will help us to continue to expand our business with our existing customers as well as new dealers and manufacturers."
The acquisition of Indiana Transport included the acquisition of accounts receivable, prepaid expenses, machinery and equipment, and real estate, and was funded under the company's existing credit facility. Patrick will continue to operate the business on a stand-alone basis under the Indiana Transport brand name in existing facilities.