<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): May 2, 2000
PENDA CORPORATION
(Exact name of registrant as specified in its charter)
FLORIDA 33-77728 65-0463658
(STATE OF INCORPORATION) (COMMISSION FILE NO.) (I.R.S. EMPLOYER
IDENTIFICATION NO.)
(608) 742-5301
(Registrant's telephone number, including area code)
<PAGE> 2
Item 5. Other Events.
On April 26, 2000, Penda Corporation announced that the final sale of
the Company to William Blair Capital Partners, Wind Point Partners, and Norwest
Equity Partners was completed.
Item 7. Financial Statements and Exhibits.
Exhibits:
99.1 Press release, dated May 1, 2000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
By: /s/ Samuel Mostkoff
Name: Samuel Mostkoff
Title: Vice President and
General Counsel
Date: April 26, 2000
2
<PAGE> 1
[PENDA CORPORATION LETTERHEAD]
PRESS RELEASE MAY 1, 2000
FOR RELEASE: Immediately
FOR MORE INFORMATION: Kristin Uttech
Director of Marketing
Penda Corporation
(608) 742-5301 Ext. 7827
PENDA ANNOUNCES
FINAL SALE OF COMPANY
PORTAGE, WIS. -- Penda Corporation announced today, that effective April 26, the
final sale of the company to William Blair Capital Partners, Wind Point
Partners, and Norwest Equity Partners, was completed. The current management
team at Penda also participated in the new company's ownership. William Blair
Capital Partners VI, L.L.C. led the transaction and First Union Securities
arranged the Senior Credit facility. Mezzanine capital for the transaction was
provided by a group led by William Blair Mezzanine Capital Partners III, L.L.C.
and included Aegon USA Investment Management, Inc. and Norwest Equity Partners.
Penda is the nation's largest manufacturer and marketer of pick-up
truck bedliners, serving both the original equipment and automotive
aftermarkets. Penda also manufactures a full-line of truck accessories including
soft and hard tonneau covers, step boards, tie-downs, and bedmats. Penda's
subsidiaries, Penda Glasstite, Inc. and Tri-Glas Corporation manufacture premium
fiberglass truck caps, running boards and hard tonneau covers.
Jack Thompson, President and CEO of Penda Corporation, states, "Penda
will continue to focus on making our customers and employees 100% successful.
That is what has led to our
<PAGE> 2
[PENDA CORPORATION LETTERHEAD]
market leadership in the bedliner industry. Our management team is excited about
the new opportunities this partnership will bring."
The new ownership will allow Penda to have access to additional equity
to continue their aggressive acquisition strategy. Penda has positioned
themselves as a complete platform for truck accessories by purchasing companies
that complement their product line over the last 2 years. Leo Waner, Chief
Financial Officer for Penda, explains, "We will continue to build our market
leadership position in the truck accessories industry via acquisition under our
new ownership. We have demonstrated that we can have a significant impact on
industry categories by investing in solid marketing plans that increase brand
awareness and drive sales volume. The truck accessories industry offers many
excellent opportunities to acquire companies and implement our proven business
strategy."
Penda manufactures the top brand bedliner, the Pendaliner SR, and the
officially licensed products of NASCAR Trucks, the Pendaliner SR PRO and the
Pendacover PRO, as well as the Pendatray SR, Pendacover, Hide-A-Hook tie-downs,
and bed mats. For additional product information, visit www.pendacorp.com.
# # #
