Resilience Capital Partners Completes Acquisition of Penda Corporation

Aug 02, 2007, 01:00 ET from Resilience Capital Partners

    CLEVELAND, Aug. 2 /PRNewswire/ -- Resilience Capital Partners
 (, a Cleveland-based private equity firm, has
 completed the acquisition of Penda Corporation of Portage, Wisconsin.
     Penda Automotive is a leading manufacturer of original equipment and
 aftermarket drop-in bedliners and thermoformed tonneau covers. The Penda
 Water Management business unit serves a growing range of customers through
 its innovative SmartDitch(TM) thermoformed channel/ditch-lining system.
 Penda Premier Solutions provides turnkey operations for companies seeking
 innovative, custom-molded products and components for virtually any
 commercial use.
     Over the past several years, Penda has broadened its product portfolio
 for the light-truck original equipment and aftermarket industries while
 expanding into the governmental/commercial/industrial water management and
 custom thermoforming markets.
     "Resilience Capital Partners believes the end markets served will
 continue to improve over time and we are very excited to add this company
 to The Resilience Fund II portfolio," said Steven Rosen, a Managing Partner
 of Resilience Capital Partners.
     "We are very pleased to have attracted such a well-established and
 progressive investment partner. Resilience supports Penda's growth strategy
 and will allow us to invest the necessary resources in strengthening our
 competitive position within the automotive, water management and custom
 thermoforming markets," said Ulf Buergel, Penda's President and CEO.
     "We have been very impressed and are highly enthusiastic to be working
 with the management team, employees, customers and suppliers of Penda to
 continue its growth and diversification. Ulf Buergel and his team have
 positioned the company well for continued success," said Bassem Mansour, a
 Managing Partner of Resilience Capital Partners.
     Resilience Capital Partners is a private equity firm with offices in
 Cleveland, Ohio and Detroit, Michigan is focused on investing in
 underperforming and turnaround situations. Resilience's investment strategy
 is to acquire lower middle market companies that have solid fundamental
 business prospects, but have suffered from a cyclical industry downturn,
 are under- capitalized, or have less than adequate management resources.
 Resilience typically acquires companies with revenues of $25 million to
 $250 million. Since its inception in 2001, Resilience has acquired 14
 companies with combined revenues in excess of $750 million.
     For More Information:
     Bassem Mansour
     Managing Partner
     Resilience Capital Partners

SOURCE Resilience Capital Partners