Portage manufacturer acquires Michigan firm; Mach One plans to acquire Kenosha firm
Portage manufacturer acquires Michigan firm
Penda Corp., a Portage-based manufacturer and marketer of thermoformed solutions, has merged with Durakon Industries Inc. of Lapeer, Mich.
Durakon is a supplier of advanced thermoformed automotive components.
The name of the new entity will remain Penda Corp., and the headquarters will be in Portage.
Both companies supply parts to the automotive industry. Penda is a portfolio company of Resilience Capital Partners. Durakon is a portfolio company of Littlejohn & Co. LLC.
"Combining the core competencies, capacities and complementary channels to market of Penda and Durakon will create a leading heavy gauge thermoformer with a strong technology base, sufficient capacity for future growth and diversified market participation," said Ulf Buergel, president and chief executive officer of the combined companies.
Mach One plans to acquire Kenosha firm
Belgium, Wis.-based Mach One Corp., a biological solutions company that develops products that produce a positive long term benefit to the agricultural and consumer market, announced it has entered into a non-binding letter of intent to acquire Modular Process Contractors LLC, which does business as MPS BioPharm in Kenosha.
The proposed stock conversion transaction is subject to satisfactory completion of due diligence by the purchaser.
Monte Tobin, chief executive officer of Mach One, said, "This proposed acquisition of Modular Process Constructors, a systems company supplying pharmaceutical companies with processing skids, would fill out an important part of our future growth plans – dealing with world class customers and increasing our presence in the pharmaceutical space."