Looks forward to Continued Support and Expansion in Outdoor Industry.
Bedford, Mass. --(Ammoland.com)- Kinderhook Industries, a private equity firm based in New York has purchased The Schawbel Corporation, maker of the highly effective zone mosquito defense brand, Thermacell.
While terms of the transaction were not disclosed, William Schawbel, founder and owner of The Schawbel Corporation, will continue to be a significant shareholder and board member of Thermacell Repellents Inc., the new name of the company.
“We are proud to make innovative insect repellent products and look forward to continuing this tradition,” said Bill Schawbel. “Financial backing from Kinderhook will help us reach our aggressive growth goals and fund investments in marketing and product development.”
“Thermacell has developed tremendous brand equity especially in the outdoor and hunting markets, achieved consistent year over year growth and has demonstrated an ability to selectively expand their business into new markets such as lawn and garden,” said Kinderhook Managing Director Tom Tuttle.
Thermacell has always been a mandatory accessory for successful deer and turkey hunters. The brand has also demonstrated a strong ability to identify new markets for company expansion resulting in unprecedented growth in the repellent industry.
“I am excited to partner with the Thermacell management team to upgrade infrastructure and develop innovative, market leading products in the thriving outdoor sector,” said Steve Hill, CEO of Thermacell Repellents. “Our new relationship with Kinderhook will prove invaluable as the Company enters its next stage of growth.”
Company sales are at an all-time high driven by unusually high mosquito populations worldwide and the loyalty of hunters and outdoorsmen of all types. In fact, June sales of Thermacell were up almost 40 percent compared to 2013.
The company will continue to be headquartered in Bedford and will be opening an office in the Chicago area. With an eye on a larger slice of the $2B worldwide repellent industry, Thermacell is sold in 30 countries worldwide and will continue to increase its geographic footprint under the guidance of Kinderhook. The brand will continue longtime ties to the outdoor industry such as the successful partnership with Realtree Outdoors and support the industry through participation, advertising and sponsorships.
The Kinderhook transaction does not include Schawbel Technologies with businesses in personal heating and cooling products such as the ThermaCELL Heated Insoles product line.
About Thermacell Repellents, Inc.
Thermacell products create a 15’ x 15’ zone of protection in minutes from biting insects and are silent, have no open flame, and are virtually odorless. Thermacell can be found at major outdoor retail stores including Bass Pro Shops, Cabela’s and Dick’s Sporting Goods as well as mass retailers such as The Home Depot and Walmart. For more information on Thermacell and its complete line of repellent products including appliances and lanterns, consumer reviews, or store locations, visit www.Thermacell.com or call 1-866-753-3837.
About Schawbel Corporation
The Schawbel Corporation, is headquartered in Bedford, Massachusetts and was founded in 1981 by William Schawbel. The company focuses on consumer products that have global appeal and can leverage its worldwide independent sales representatives, distributors, offshore manufacturing, and engineering resources.
About Kinderhook Industries
Founded in 2003, Kinderhook is a private equity firm with over $1.25 billion of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies with transaction values of $25-$150 million in which the firm believes it can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com.