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Trivest Affiliate, Penda Corporation, Acquires Assets of Custom Form Manufacturing, Inc.

PORTAGE, Wis.--(BUSINESS WIRE)--Oct. 26, 1998--Trivest, Inc., through its affiliate Penda Corporation ("Penda"), announced today that it has acquired the bedliner and soft tonneau cover assets of Custom Form Manufacturing, Inc. ("Custom Form").

Custom Form, located in Elkhart, Indiana, is a manufacturer of automotive and truck accessories for the automotive after markets.

Jack L. Thompson, Penda's President and Chief Executive, said, "The acquisition of Custom Form's bedliner and soft tonneau cover assets creates additional synergies in Penda's market coverage and penetration. It expands the applications of our product mix and allows us to provide our customers with a larger range of products."

Thompson continued, "We are pleased that Custom Form's key managers have joined the Penda team. Jack Barben, Custom Form's CEO, and Lee Stankovich, Sales Manager, will continue to provide service and support to Custom Form's customers."

Mr. Barben stated, "I am pleased to join Penda, a company widely-recognized for product quality and innovation. I firmly believe that this change will be beneficial to all of our customers."

Jeffrey G. Rastocan, Penda's Vice President, Sales and Marketing, stated, "Penda's customers will benefit from the extension of our product line into soft tonneau covers. This will diversify our product offerings and strengthen Penda's market leadership."

Penda is one of the largest manufacturers and marketers of pick-up truck bedliners in the United States, serving both the original equipment and automotive after markets. Penda manufactures the top brand bedliner, Pendaliner SR, as well as several other key brand name products including Hide-A-Hook tie downs, Tri-Step premium step boards, and Penda bedmats. Penda's subsidiary, Tri-Glas Industries, manufactures premium fiberglass truck accessories including truck caps, running boards, and tonneau covers.

Trivest, Inc. is a Miami-based private investment firm and a leading provider of equity for middle market corporate acquisitions and growth financings. Since its founding in 1981, Trivest has completed over 70 acquisitions and currently controls ten portfolio companies in various industries, which have annual revenues of approximately $1 billion.
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Publication:Business Wire
Geographic Code:1USA
Date:Oct 26, 1998
Words:327
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