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Penda Expands Its Fiberglass Capabilities With Purchase of Glasstite

1 November 1999

Trivest Affiliate, Penda Corporation, Expands Its Fiberglass Capabilities With the Purchase of Glasstite

    MIAMI--Nov. 1, 1999--Trivest, Inc. through its affiliate Penda Corporation, announced today that it has acquired the assets and operations of Glasstite, Inc.
    Glasstite, located in Dunnell, MN, is a leading manufacturer of fiberglass camper shells and tonneau covers. Penda currently owns Tri-Glas Industries, located in Dothan, AL, a manufacturer of premium fiberglass truck accessories including truck caps, running boards and tonneau covers.
    Peter Vandenberg, Jr., Trivest's Managing Director, said, "With the acquisition of Glasstite, Inc., the quality leader in fiberglass truck products, Penda will continue to expand its fiberglass product lines and market penetration as one of the most prominent truck accessory suppliers in the USA."
    Penda, an affiliate of Trivest, Inc., is the largest manufacturer and marketer of pick-up truck bedliners in the world, serving both the original equipment and automotive aftermarkets. Penda manufactures the top brand bedliner, Pendaliner(R) SR(TM), and the officially licensed products of NASCAR Trucks, the Pendaliner(R) SR PRO(TM) and Pendacover PRO(TM), as well as the Pendatray SR(TM), Pendacover(TM), Hide-a-Hook(R) tie downs, Tri-Step(TM) premium step boards and bed mats.
    Trivest, Inc., a private investment firm, is a leading provider of equity for middle market corporate acquisitions, recapitalizations and growth capital financings. Since its founding in 1981, Trivest has sponsored more than 85 acquisitions and recapitalizations totaling over $1.3 billion in value.