Penda Corporation, a portfolio company of Resilience Capital Partners and Littlejohn & Co., has acquired The Fabri‐Form Company.
The Fabri-Form Company is a plastic thermoformer of material handling, packaging, and engineered components for the automotive, grocery, and heavy-duty truck industry. The company was founded in 1943 and is based in New Concord, OH (www.fabri-form.com)
Penda Corporation is a heavy gauge thermoformer supplying automotive, industrial and consumer markets with products including pickup truck bedliners, tonneau covers, tie downs as well as erosion control, irrigation and other water management products. The company is based in Portage, WI (www.penda.com).
The combined company, with annual revenues of over $150 million, will operate as Penda Fabri-Form Corporation, and will be headquartered in New Concord, OH.
“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.
Resilience Capital Partners specializes in investing in middle market companies with $25 million to $250 million in revenues across a range of industries. The firm’s investment strategy is to acquire companies in a variety of special situations including underperformers, corporate divestitures, turnarounds, and orphan public companies. Since its inception in 2001, Resilience has acquired 28 companies under 20 platforms with over $2 billion in revenues. The firm is based in Cleveland (www.resiliencecapital.com).
Littlejohn & Co. makes control and non-control investments in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth. The firm is currently investing from Littlejohn Fund IV which has over $1.3 billion in capital commitments. Littlejohn & Co. is based in Greenwich, CT (www.littlejohnllc.com).
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. P&M Corporate Finance acted as financial advisor to Fabri-Form.
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-30-13
