Thermoformer TriEnda Holdings LLC announced the acquisition of PendaForm Co., a maker of pickup bed liners and accessories for both aftermarket and original equipment manufacturers.
In addition to its New Concord, Ohio, headquarters, PendaForm operates manufacturing locations in Portage, Wis.; Bluffton, Ind.; Lerma, Mexico; and Ramos Arizpe, Mexico, according to its website.
TriEnda, based in Portage, Wis., specializes in heavy-gauge thermoformed plastic pallets and shipping containers. The company reported sales of $51.5 million in 2015.
PendaForm has annual sales of $203 million, according to Plastics News estimates, making it the 10th largest thermoforming in North America. Its 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, a news release indicates.
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.
