Deloitte Advises Larry Methvin Installations Inc. in its Sale to Patrick Industries, Inc. – Press release | Deloitte US has been added to your bookmarks.
Deloitte Corporate Finance LLC Advises Larry Methvin Installations, Inc. on its Sale to Patrick Industries, Inc.
Charlotte, N.C., February 2, 2018 — Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Ontario, California-based Larry Methvin Installations, Inc. (LMI), a fabricator and installer of specialty bath and closet building products, on its sale to Patrick Industries, Inc. (Patrick), an Elkhart, Indiana-based manufacturer and distributor of building products. Sheppard, Mullin, Richter & Hampton LLP served as LMI’s legal counsel for the transaction, which closed Nov. 30, 2017.
Founded in 1972, LMI is a leading designer, fabricator and installer of specialty glass, mirror, bath and closet building products, serving the residential and commercial building markets in California and Nevada. LMI maintains control of production with six fabrication, manufacturing, and distribution facilities in the U.S. and one manufacturing facility in China to efficiently control the product supply chain. LMI’s scale, broad product categories, commitment to customer service and culture of innovation enable LMI to maintain a significant presence in its many channels.
“Deloitte Corporate Finance brought extensive resources and expertise into a complex strategic transaction that culminated in a great outcome for LMI. DCF’s substantial industry experience and deep bench of talented and dedicated professionals were key differentiators during the transaction process,” said Kent Snyder, chief financial officer of LMI.
“LMI’s reputation for premium products and design, as well as its strong market share in multiple end-markets, made the company a leader in the specialty bath and closet building products industry,” said Kevan Flanigan, managing director, Deloitte Corporate Finance LLC. “We’ve seen healthy deal volume and valuations in the building product sector since 2015 and expect that trend to stay strong in 2018.”
About Larry Methvin Installations, Inc.
Founded in 1972 and based in Ontario, California, LMI is a fabricator and installer of specialty bath and closet building products for homebuilders, high rise developments, general contractors, retailer, and recreational vehicle (“RV”) manufacturers in the U.S. LMI is a preferred provider for residential builder and high rise constructions contractors in California and Nevada, offers high quality glass and mirror retail products in the Western U.S., and is a leading supplier of shower enclosures into national RV manufacturers. For more information on LMI, visit the LMI website at www.larrymethvin.com.
About Patrick Industries, Inc.
Patrick Industries, Inc. is a major manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, marine, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets and operates coast-to-coast through locations in 20 states and in China. Patrick's major manufactured products include decorative vinyl and paper laminated panels, countertops, fabricated aluminum products, wrapped profile moldings, slide-out trim and fascia, cabinet doors and components, hardwood furniture, fiberglass bath fixtures and tile systems, thermoformed shower surrounds, specialty bath and closet building products, fiberglass and plastic helm systems and component products, wiring and wire harnesses, electrical systems components including instrument and dash panels, softwoods lumber, interior passage doors, RV painting, slotwall panels and components, aluminum fuel tanks, and CNC molds and composite parts and other products. The Company also distributes drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and plumbing products, cement siding, raw and processed lumber, FRP products, interior passage doors, roofing products, laminate and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other miscellaneous products. For more information on Patrick, visit the Patrick website at www.patrickind.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC (DCF) provides strategic advisory services and M&A advice that help corporate, entrepreneurial, and private equity clients create and act upon opportunities for liquidity, growth and long term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
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