ICV Capital Partners has sold Sterling Foods Ltd., a San Antonio, Texas-based provider of specialty bakery products, to TGF Management and Austin Ventures. No financial terms were disclosed.
Penda Corp., a Portage, Wis.-based maker of thermoformed solutions, has agreed to merge with Durakon Industries Inc., a provider of thermoformed automotive components. No financial terms were disclosed. Penda is a portfolio company of Resilience Capital Partners, while Durakon is a portfolio company of Littlejohn & Co. Both private equity firms will be the shareholders of the combined company.