TORONTO, Ontario (August 15, 2016) – Penfund, an independent provider of junior capital to middle market companies in the United States and Canada, announced today the completion of an investment in Plews & Edelmann (“Plews” or the “Company”).
Headquartered in Dixon, Illinois, Plews is a leader in the distribution of automotive and industrial replacement parts and accessories to the North American automotive, industrial and retail markets. The Company’s product range includes power steering hose assemblies, precision-engineered brass fittings, air accessories, air hoses, tire repair hardware, gauges, lubrication equipment, and a range of lubrication greases, oils and sprays.
Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund V. Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high-net-worth individuals and has invested more than $3 billion in over 225 companies since its establishment in 1979. Assets and capital under management exceed $1 billion.