---
schema_version: "secwatch.filing_event.v1"
accession: "0000076605-24-000004"
form_type: "8-K"
ticker: "PATK"
cik: "0000076605"
company_name: "PATRICK INDUSTRIES INC"
filed_at: "2024-01-11T23:59:59+00:00"
generated_at: "2026-06-07T00:44:43.311560+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Patrick Industries to acquire Sportech for $315M cash; expects immediate accretion

## Summary
- Acquires all outstanding equity of Sportech, a powersports component supplier, for ~$315M all-cash.
- Expected to close by Jan 24, 2024, subject to customary conditions and regulatory approval.
- Sportech had estimated 2023 revenue of ~$255M; 5-year CAGR of 17%.
- Deal expected to be immediately accretive to profit margins and net income per share.
- Proforma net leverage ratio ~2.9x; company targets reduction to pre-acquisition levels in 2-3 quarters.

## SEC filing metadata
- accession: 0000076605-24-000004
- form_type: 8-K
- ticker: PATK
- cik: 0000076605
- company_name: PATRICK INDUSTRIES INC
- filed_at: 2024-01-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/76605/000007660524000004/0000076605-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/76605/000007660524000004/patk-20240110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000076605-24-000004
- JSON: https://secwatch.observer/filing/0000076605-24-000004.json
- Plain text: https://secwatch.observer/filing/0000076605-24-000004.txt

## Key facts
- Material Agreements
  PATRICK INDUSTRIES INC entered into a asset purchase with Off Road Holdings, LLC valued at approximately $315 million (effective 2024-01-10).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Off Road Holdings, LLC
  - Value: approximately $315 million
  - Effective: 2024-01-10
  source text: On January 10, 2024, Patrick Industries, Inc. (the "Company") signed a definitive agreement to acquire all outstanding stock of Off Road Holdings, LLC ("Sportech") for approximately $315 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/76605/000007660524000004/0000076605-24-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.