Penfund invests in Eigen Capital-owned Plews & Edelmann
Canadian private equity firm Penfund has closed an investment in Plews & Edelmann, an Illinois-based designer, maker and distributor of automotive and industrial replacement parts and accessories. Financial terms of the investment were not disclosed.
Plews & Edelmann is controlled by U.S. private equity firm Eigen Capital, which acquired the company from Tomkins Ltd. in April 2011.
Penfund has made many investments in the automotive aftermarket space and says it continues to like the stability of the sector and the growth plans of the businesses it has invested in.
Toronto-based Penfund is a member of the Canadian Venture Capital and Private Equity Association and is currently investing in its most recently established fund, Penfund Capital Fund V.