News

April 22, 2000

Norwest Mezzanine Partners Invests $7.8 Million in Penda Holdings, Inc.

Norwest Mezzanine Partners invested $7.8 million of senior subordinated debt in Penda Holdings, Inc. (“Penda”), a leading manufacturer and marketer of pickup truck accessories serving both original equipment manufacturers and the automotive aftermarkets.  Penda’s product lines includes bedliners, truck trays, truck caps, hard and soft tonneau covers, running boards, step boards, van tops, and accessory products.  Additional truck accessory products supplied by Penda include: Hide-A-Hook, bedmats, and cargo trays.

Norwest Equity Partners, Wind Point Partners and William Blair Capital Partners served as the private equity sponsors on this transaction. Visit www.nep.com,www.wppartners.com, and www.wbcapitalpartners.com for more information.

NMP Contact: Carter Balfour, 612-215-1664, cbalfour@nmp.com

Norwest Equity Partners (NEP) is a leading middle market investment focused on partnering with business owners and building companies into industry leaders. With a reputation for quality investments and exceptional financial returns since 1961, NEP manages nearly $5 billion of capital through a series of equity and mezzanine funds. Offering creative and flexible transaction solutions through management buyouts, recapitalizations and growth financings, NEP seeks $30-$150 million equity investment opportunities for growing and profitable companies within the agriculture, applied technology, business services, consumer products and services, distribution, healthcare and industrial industry sectors. NEP is headquartered in Minneapolis, Minnesota; please visit nep.com for more information.