New Pendulum Corporation Completes Acquisition of MasonWays, Announces Further Extension of Portfolio into Convenience and Grocery Market

WILMINGTON, Del. , Aug. 21, 2023 /PRNewswire/ -- New Pendulum Corporation, a family-owned and managed portfolio specializing in the manufacturing and industrial space, announced today that via acquisition, MasonWays Plastics, LLC has joined the New Pendulum family of companies. MasonWays has been a leading manufacturer of dunnage, display, and commercial products since 1983. 

"We're excited to add MasonWays to the New Pendulum family of companies, and look forward to leveraging our resources and omnichannel expertise to grow MasonWays into the future. This acquisition is a sound strategic fit for our investment philosophy, even more so when you align it to the strengths of our other holdings," said Clark Stapelfeld, President & CEO of New Pendulum Corporation.

With the addition of MasonWays, this most recent investment demonstrates New Pendulum's drive to continue its multi-year, multi-company expansion into the convenience and grocery supply space. 

"Over the last nine years, New Pig, another of the New Pendulum companies, has had significant success entering the Grocery and Convenience markets through innovative offerings and growing relationships with corporate customers. With MasonWays, we look forward to further growing those relationships by providing the high level of service and fulfillment New Pig is known for," said Steve Kline, Chief Financial Officer of New Pendulum Corporation.

MasonWays marks the 13^th New Pendulum holding since its formation in 1983.  Of those companies it has created or acquired over the past 40 years, New Pendulum still holds twelve in portfolio, proof of an acquisition strategy centered on long-term growth and profitability.

"When we began discussions, it became clear that the New Pendulum team had a focused, realistic approach to understanding MasonWays and the opportunities for both domestic and overseas growth with our product line. Throughout the process, they've treated my team, my brand, and my company with respect. New Pendulum is bringing additional marketing expertise and more sales reach to MasonWays," said Judd Ettinger, current Executive Vice President of MasonWays and former President/Owner/Managing Director. 

About MasonWays
Founded in 1983 by Allen Mason, MasonWays innovated the use of rotational molding of plastics to create better, safer, more sanitary alternatives for the storage and merchandizing of food. Now operating from six locations in the U.S., MasonWays has grown to become a leading manufacturer of products for the grocery and convenience store market, including Dunnage Racks, Display Bases, Merchandisers, and Forecourt Products.

About New Pendulum
New Pendulum is a family-owned and managed, privately held company with a proven track record of strategic acquisitions and accelerated growth internationally since 1986. Specializing in industrials and manufacturing, our approach is one of creating increased profitability through long-term investment, sound corporate stewardship, and leveraging omnichannel expertise.

The New Pendulum family of companies includes New Pig, SpillTech, MasonWays, and nine others, with holdings in nine countries and totaling more than 750 employees.

For more information, please visit www.newpendulum.com

Contact:
Andy James
814.686.2328

SOURCE New Pig Corporation