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CLEVELAND, Aug. 2 /PRNewswire/ -- Resilience Capital Partners(http://www.resiliencecapital.com), a Cleveland-based private equity firm, hascompleted the acquisition of Penda Corporation of Portage, Wisconsin. Penda Automotive is a leading manufacturer of original equipment andaftermarket drop-in bedliners and thermoformed tonneau covers. The PendaWater Management business unit serves a growing range of customers throughits innovative SmartDitch(TM) thermoformed channel/ditch-lining system.Penda Premier Solutions provides turnkey operations for companies seekinginnovative, custom-molded products and components for virtually anycommercial use. Over the past several years, Penda has broadened its product portfoliofor the light-truck original equipment and aftermarket industries whileexpanding into the governmental/commercial/industrial water management andcustom thermoforming markets. "Resilience Capital Partners believes the end markets served willcontinue to improve over time and we are very excited to add this companyto The Resilience Fund II portfolio," said Steven Rosen, a Managing Partnerof Resilience Capital Partners. "We are very pleased to have attracted such a well-established andprogressive investment partner. Resilience supports Penda's growth strategyand will allow us to invest the necessary resources in strengthening ourcompetitive position within the automotive, water management and customthermoforming markets," said Ulf Buergel, Penda's President and CEO. "We have been very impressed and are highly enthusiastic to be workingwith the management team, employees, customers and suppliers of Penda tocontinue its growth and diversification. Ulf Buergel and his team havepositioned the company well for continued success," said Bassem Mansour, aManaging Partner of Resilience Capital Partners. Resilience Capital Partners is a private equity firm with offices inCleveland, Ohio and Detroit, Michigan is focused on investing inunderperforming and turnaround situations. Resilience's investment strategyis to acquire lower middle market companies that have solid fundamentalbusiness 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 14companies with combined revenues in excess of $750 million. For More Information: Bassem Mansour Managing Partner Resilience Capital Partners 216-292-4748
