CLEVELAND, OHIO, JULY 30, 2013 – 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.
2
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 MidAtlantic
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
