Penda Announces Definitive Sale Agreement

05 April 2000

Penda Corporation announced today a definitive Agreement for the sale of the company to a group led by William Blair Capital Partners along with co-investors, Wind Point Partners 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 Industries manufacture premium fiberglass truck caps, running boards and hard tonneau covers. The current management team at Penda will remain in place following the new Agreement, which will allow Penda to have access to additional equity.

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