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 .
Mon Mar 5, 2018
Patrick Industries, Inc. (NASDAQ: PATK) has announced it has completed the acquisition of the business and certain assets of Angola, Indiana-based IMP Holdings, LLC, doing business as Indiana Marine Products.
IMP is a manufacturer and distributor of fully-assembled helm assemblies, including electrical wiring harnesses, dash panels, instrumentation and gauges, and other products primarily for the marine market. IMP's full-year 2017 revenues were approximately $33 million, according to a release from Patrick Industries, headquartered in Elkhart, Indiana. The total cash consideration paid was approximately $18.5 million, plus the potential for up to $11.5 million of additional consideration upon the achievement of certain performance metrics over the next three years.
"As we continue to execute on our disciplined capital allocation strategy, the acquisition of IMP is a great fit within our portfolio of recognizable brand companies that highly complements our value proposition to the marine markets, and will help drive growth and synergy realization," says Todd Cleveland, chief executive officer of Patrick.
To read more about the acquisition, CLICK HERE.