TriEnda Holdings acquires PendaForm; deal includes two Mexican plants
Thermoformer TriEnda Holdings LLC announced it has acquired PendaForm Co., a maker of pickup bed liners and accessories for both aftermarket and original equipment manufacturers (OEM) in the NAFTA region.
PendaForm operates manufacturing locations in Portage, Wisconsin; New Concord, Ohio; Bluffton, Indiana; Lerma de Villada, in the central State of Mexico, and Ramos Arizpe, Coahuila, a state that borders with Texas.
TriEnda, based in Portage, Wisconsin, specializes in heavy-gauge thermoformed plastic pallets and shipping containers. Pendaliner brand name truck beds are sold throughout the U.S.
The partnership will have 47 heavy-gauge thermoforming machines and 13 extrusion lines with a 14th extrusion line planned for 2017, according to a press release.
TriEnda CEO John Brown will become the new CEO of PendaForm and TriEnda President David Kruger will become PendaForm’s new president.
TriEnda is officially controlled by Kruger Brown Holdings LLC. Kruger Brown, made up of private investors with a range of experience in turning around manufacturers, purchased TriEnda in early 2014.
Financial terms in the deal were not disclosed.