AIRXCEL, INC ACQUIRES ELKHART COMPOSITES, INC
Dec 20, 2021, 14:15 PM
Airxcel, Inc. announced the acquisition of Elkhart, Indiana-based Elkhart Composites, Inc. Founded and operated by John Petrofsky, Elkhart Composites is engaged in the development and sale of a proprietary sustainable foamed polypropylene-based composite material marketed and sold under the “Elkboard” brand name. Lightweight, rigid, and durable, Elkboard has been utilized in the RV industry for sidewalls, helping to alleviate the industry’s dependence on traditional lauan-based sidewalls. Unlike traditional lauan-based sidewalls, Elkboard is a sustainable solution and is not susceptible to rot or delamination.
“This acquisition was a little different for us.” commented Jeff Rutherford, Airxcel’s President and CEO. “Traditionally, we invest only in brands that are well-established in the industry. Elkhart Composites and Elkboard are relatively new to the industry. This acquisition speaks to our confidence in Elkboard and its potential in the industry. There are a number of great opportunities in terms of additional applications of the current product and a number of future products that are in R&D right now. Elkboard is a great fit with Airxcel.”
“A sustainable alternative solution to lauan, Elkboard is incredibly efficient to produce. There is minimal-to-no scrap.” Rutherford continued. “We are excited about the future of this company as we see great growth potential.”
John Petrofsky, Elkhart Composites’ President and CEO, commented, “Being acquired by Airxcel opens the door to expansion and R&D opportunities that Elkhart Composites would not otherwise had access to. I look forward to growing Elkhart Composites, Inc.’s product offerings, production volume, and applications with Airxcel.”