Daily News: February 5, 2018

Deloitte Advises LMI on Sale to Patrick Industries

Deloitte Corporate Finance acted as the exclusive financial advisor to Ontario, CA-based Larry Methvin Installations on its sale to Patrick Industries, an Elkhart, IN-based manufacturer and distributor of building products. Sheppard, Mullin, Richter & Hampton served as LMI’s legal counsel for the transaction.

Founded in 1972, LMI is a 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 maintained control of production with six fabrication, manufacturing and distribution facilities in the U.S. and one manufacturing facility in China to control the product supply chain.

“Deloitte brought extensive resources and expertise into a complex strategic transaction that culminated in a great outcome for LMI. DCF’s substantial industry experience and dedicated professionals were key differentiators during the transaction process,” said Kent Snyder, CFO of LMI.

“LMI’s reputation for premium products and design made the company a leader in the specialty bath and closet building products industry,” said Kevan Flanigan, managing director at Deloitte. “We’ve seen healthy deal volume and valuations in the building product sector since 2015 and expect that trend to stay strong in 2018.”