Nolan Advised Frontline Manufacturing and Premier Concepts in a Combined Sale to Patrick Industries

DATE: September 06, 2013

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Who is Our Client?

  • Frontline Manufacturing, located in Warsaw, IN, is a major manufacturer of fiberglass bath fixtures including tubs, showers and combination tub/shower units for the recreational vehicle, manufactured housing and residential housing markets with annual revenues of approximately $15 million.
  • Premier Concepts, located in Warsaw, IN, is a custom fabricator of solid surface, granite, and quartz counter tops for the RV and residential housing industries with annual revenues of approximately $10 million.
  • Frontline and Premier have built strong reputations within their industries for exceptional in-house engineering capabilities, innovative designs and high quality products.

Why Did Frontline Manufacturing and Premier Concepts Hire Nolan?

  • The founder and sole shareholder of Frontline and Premier sought to transition to retirement and achieve a liquidity event.
  • Frontline and Premier wanted to find a strategic buyer that would recognize the value of companies in the marketplace and have a vision for the asset as an ongoing part of their organization.

What Value Did Nolan Deliver?

  • Nolan marketed Frontline’s plus Premier’s rich history, strong management team, innovative designs and high quality products to a diverse mix of strategic targets.
  • Included in the list of potential buyers was Patrick Industries, a manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, kitchen cabinet, household furniture, fixtures and commercial furnishings, marine and other industrial markets.
  • Patrick Industries is a public company listed on the NASDAQ Stock Market (NASDAQ: PATK).
  • Patrick Industries presented both a financially attractive offer and perfect strategic fit that matched our client’s expectations.
  • Patrick Industries believed acquiring Frontline and Premier would allow them to establish a strong presence in the fiberglass bath fixtures market within the industries they serve and would enhance their position as an industry leader in the RV, manufactured housing and residential counter top markets.
  • Frontline and Premier are natural fits for Patrick Industries’ existing businesses and will be key assets as they continue to execute their strategic initiatives.

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