Medallion: Becoming Part of the Patrick Industries Family

February 25, 2025

Patrick Industries, Inc. Completes Acquisition of Medallion Instrumentation Systems, LLC

ELKHART, IN, February 24, 2025 – Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Company”) announced today that it has completed the acquisition of Spring Lake, Michigan-based Medallion Instrumentation Systems, LLC (“Medallion”), a premier provider of customized instrumentation and vehicle electronics for marine, RV, powersports, on-highway and military markets. Medallion’s engineering team provides complete systems solutions that cater to customer needs, including digital switching, lighting controls, integrated audio, sensor products, wire harnessing, gauges and LCD touchscreen displays. Medallion’s 2024 revenue was approximately $38 million.

“We are thrilled to welcome the entire Medallion team to the Patrick family as we advance our mission of providing full-solutions packages to our customers,” said Andy Nemeth, Chief Executive Officer of Patrick. “With the growing customer preference towards digital switching, custom LCD displays, gauges and controllers in the Outdoor Enthusiast space, this acquisition purposefully connects our complement of existing product offerings into a complete technology solution that can be customized to our customer’s vision and needs. In tandem with our strong mechanical expertise and customer relationships, Medallion’s engineering, design, and sales capabilities offer an exciting opportunity to further expand our presence in the marine, powersports, and RV markets.”

Jeff Sands, Chief Executive Officer of Medallion, commented, “The Medallion team and I are energized by the opportunity to join Patrick and continue our mission of providing high-quality solutions tailored to the needs of our valued customers. We believe Patrick’s deep experience, capabilities and resources open up significant opportunities to grow our business in both our existing end markets and in those in which we are currently underpenetrated.”

Consistent with other acquisitions, Medallion will continue to operate under its existing brand name and within its current facility.