Patrick Industries, Inc. filed a Form 425 communication on October 28, 2026, reaffirming its all-stock merger agreement with LCI Industries after LCI disclosed receipt of an unsolicited nonbinding acquisition proposal from Monomoy Capital Partners.

Key Highlights

  • Merger reaffirmed: Patrick Industries reaffirmed its definitive all-stock merger agreement with LCI Industries, originally announced June 30, according to the filing.
  • Unsolicited bid disclosed: LCI Industries received an unsolicited nonbinding proposal from Monomoy Capital Partners to acquire LCI, the filing states.
  • LCI board recommendation unchanged: According to the filing, LCI's Board of Directors has not changed its recommendation in support of the merger with Patrick.
  • Internal communication issued: Chairman and CEO Andy Nemeth sent an email to Patrick employees on October 28, 2026, providing an update on the merger and the competing proposal.
  • Combined entity description: The filing describes the proposed combined company as "a premier component solutions provider for the outdoor enthusiast, housing and transportation markets."
  • Media guidance issued: Employees were instructed not to comment or speculate if approached by customers, partners, or media, and to forward external inquiries to Steve O'Hara/Investor Relations.

Patrick Industries Responds to Monomoy Proposal for LCI Industries

Patrick Industries (NASDAQ:PATK) filed a Form 425 on October 28, 2026, communicating to both employees and the public that its planned all-stock merger with LCI Industries (NYSE: LCII) remains on track, despite LCI's disclosure of an unsolicited nonbinding acquisition proposal from Monomoy Capital Partners. The filing includes an internal employee email from Chairman and Chief Executive Officer Andy Nemeth and an attached press release issued the same day.

According to the filing, Patrick was notified by LCI that Monomoy Capital Partners had submitted an unsolicited nonbinding proposal to acquire LCI. The filing states that, "consistent with its fiduciary duties, LCI's Board of Directors has a responsibility to carefully evaluate the proposal." However, the filing also notes that LCI's Board of Directors "has not changed its recommendation in support of LCI's merger with Patrick," and that both companies "remain fully committed to completing that transaction."

In the employee email included in the filing, Nemeth described the situation as "business as usual" and stated that "nothing about our day-to-day operations or strategic vision and plan has changed." The filing describes Patrick as a component solutions provider serving RV, Marine, Powersports, and Housing markets, headquartered in Elkhart, IN, and employing approximately 10,000 team members throughout the United States. The filing contains forward-looking statements, which the company notes are subject to risks and uncertainties as described in its cautionary language.

What Was Disclosed

Patrick Industries filed a Form 425 reaffirming its merger agreement with LCI Industries after LCI received an unsolicited nonbinding proposal from Monomoy Capital Partners. LCI's board recommendation in favor of the Patrick merger remains unchanged, according to the filing.