Resilience Capital Partners And Littlejohn & Co. Portfolio Company Completes Acquisition

CLEVELAND, July 30, 2013 /PRNewswire/ -- Resilience Capital Partners and Littlejohn & Co. announced today that their portfolio company, Penda Corporation ("Penda"), has acquired The Fabri‐Form Company ("Fabri-Form"), a heavy gauge thermoformer of engineered components and industrial packaging solutions.  Financial terms of the transaction were not disclosed.

Founded in 1943, Fabri-Form serves a large customer base for applications in heavy truck, automotive packaging, food, medical, and other end markets.  The components family includes a vast array of precision thermoformed parts and assemblies and the material handling family is highly diverse comprising both custom and proprietary products and solutions.  Fabri-Form is headquartered in New Concord, Ohio.

"Penda represents a great fit for the future of our Company, our employees, and customers.  My family started Fabri-Form in 1943 and this represents the next step in our rich history of evolution and growth.  I could not be more excited about the opportunities that will be provided by our future together with Penda," noted John Knight, former CEO of Fabri-Form.

Penda, based in Portage, Wisconsin, is a leading designer, manufacturer, and marketer of large heavy gauge thermoformed products in North America.  Over its 35-year history, Penda has developed a broad product portfolio of thermoformed accessories for the light truck market, established itself as the largest Tier I supplier for thermoformed automotive components, and introduced proprietary green technology products.    

The combination, which will operate as Penda Fabri-Form Corporation and will be headquartered in New Concord, Ohio, creates the undisputed leader in heavy gauge thermoforming in North America.  With over $150 million in revenue the Company has unparalleled technical and operating capabilities serving a highly diversified group of customers and end markets.

"We are impressed with Fabri-Form's thermoforming capabilities, world-class engineering solutions, and experienced management team. We look forward to the integration of the businesses to create a comprehensive range of technical offerings and enhanced customer experience," said Bassem Mansour, Co-CEO of Resilience Capital Partners.

Senior financing for the transaction was provided by KeyBanc Capital Markets, GE Antares and The Private Bank while subordinated debt financing was provided by Garrison Capital Inc. and funds advised by Garrison Investment Group.  Kirkland & Ellis acted a legal counsel to Penda, Resilience and Littlejohn and Jones Day was legal counsel to Fabri-Form.  P&M Corporate Finance acted as financial advisor to Fabri-Form.

About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience Capital Partners invests in niche-oriented manufacturing, distribution and business service companies located in the Midwestern and Mid-Atlantic United States with sustainable market positions and a clear path to cash flow improvement. Resilience targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company's operations, competitive positioning and profitability.  Since its founding in 2001, Resilience Capital has invested in 30 companies under 20 platforms.  Its portfolio companies today employ more than 5,000 people in 14 states and collectively represent over $2 billion in revenues.  Resilience manages in excess of $320 million for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds, wealth managers, and investment consultants.  For more information, visit www.resiliencecapital.com.

About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity and distressed securities firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach.  The firm is currently investing from Littlejohn Fund IV, L.P., which has over $1.3 billion in capital commitments. For more information, visit www.littlejohnllc.com.  

Contact
Bassem Mansour
Co-CEO
Resilience Capital Partners
(216) 292-4748

SOURCE Resilience Capital Partners



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