CHARLOTTE, N.C., Feb. 2, 2018 /PRNewswire/ — 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