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Tender Corporation Joins with Victor Capital Partners to Accelerate Its Growth
Victor Capital Partners and Longtime CPG executive Gary A. Kiedaisch join forces with Tender Corporation to help drive continued growth
LITTLETON, N.H. - January 31, 2019 — Tender Corporation, which sells a range of best-in-class branded consumer products, has been recapitalized by Victor Capital Partners, a private equity firm that invests in middle-market businesses with powerful brands, and longtime CPG executive Gary A. Kiedaisch. Victor Capital and Kiedaisch will work with Tender to accelerate its growth in both the outdoor and consumer packaged goods marketplaces. Financial terms of the private transaction were not disclosed.
Founded in 1973 in the heart of New Hampshire’s White Mountains, Tender Corporation has built a range of trusted brands in safety, preparedness and first-aid. Tender’s product portfolio includes After Bite®, the leader in insect bite relief, highly-rated insect repellents Ben’s® and Natrapel®, and outdoor first aid and survival product leaders Adventure Medical Kits® and Survive Outdoors Longer®. Tender Corporation will maintain its operational headquarters and manufacturing facilities in Littleton, New Hampshire.
“We are excited to be partnering with the Tender Corporation team in the next chapter of the company’s growth,” said Victor Capital Managing Partner Doug Korn. “We look forward to helping the company expand its reach into new markets, enhance its core product offerings, and continue the strong growth trajectory it has enjoyed in recent years.”
Longtime CPG executive Gary A. Kiedaisch to serve as Chairman of the Board
Gary Kiedaisch, an experienced outdoor products and consumer packaged goods executive with a long history of helping companies grow and prosper, is also investing in Tender and joining the company’s Board of Directors as Chairman. Kiedaisch recently served as Chairman and CEO of Igloo Products Corporation, and as CEO of the Coleman Company.
“Tender Corporation has an impressive portfolio of products that can be used in almost every household around the world,” said Kiedaisch. “This iconic company has a long history of marketing the highest quality products, helping people enjoy the outdoors while staying safe and comfortable.”
The primary selling shareholder was Prospect Partners, LLC, a Chicago-based private equity firm. Tender’s shareholders were represented by Piper Jaffray & Co. Financing for the transaction was provided by Deerpath Capital Management, LP.
About Tender Corporation: Founded in 1973 in the heart of New Hampshire’s iconic White Mountains, Tender Corporation brands have always operated with a simple, unified goal: To help people enjoy the outdoors, no matter the conditions. With innovative products from the organized-by-injury Adventure® Medical Kits to the category-dominating After Bite® insect sting treatment, Tender has—and continues—to make good on that promise. www.tendercorp.com
About Victor Capital Partners: Victor Capital Partners is a middle-market private equity firm that invests in branded businesses with compelling growth potential. Victor Capital’s focus areas include specialty consumer products and services, industrial manufacturing and technology, and industrial and business services. Victor Capital uses its capital and resources to partner with companies that have valuable brands, solid foundations in technology, potential for add-on acquisitions, and attractive business and market trends and characteristics. The firm was founded by Douglas R. Korn, a private equity veteran who has been partnering with strong management teams to help build great companies since the late 1980s. For more information on Victor Capital, please visit www.VictorCapitalPartners.com.
Contact for Tender Corporation:
970-924-0704 ext. 187
Contact for Victor Capital Partners:
Doug Allen, Stanton
PRIMALOFT, INC. PARTNERS WITH VICTOR CAPITAL PARTNERS TO ACCELERATE ITS GROWTH STRATEGY
· Company Will Continue Significant Investments in Developing High Performance Insulations and Fabrics
LATHAM, N.Y. - October 10, 2017 - PrimaLoft, Inc. (“PrimaLoft” or “the Company”), a materials science company specializing in advanced branded technical products including insulation, fabric, and yarn for outdoor, fashion, and other industries, today announced the completion of a management-led transaction to recapitalize the business and to help the rapidly growing company invest in innovative technologies to meet growing consumer demand. The new investor group is led by private equity firm Victor Capital Partners in partnership with the private equity group at Allstate. PrimaLoft management will continue to maintain a significant investment in the business. Financial terms of the transaction were not disclosed.
Founded in 1988 and headquartered in Latham, NY, PrimaLoft is a leader in research and development of high performance materials for leading outdoor and fashion brands, as well as work wear, hunting, home furnishings and military applications. Originally developed in the 1980s for the U.S. army as a water-resistant, synthetic alternative to down insulation, PrimaLoft® is today recognized as a leading consumer ingredient brand. With a focus on innovation, the Company has expanded its product line into a broad array of comfort solutions that are recognized by consumers and brand partners for being lightweight, warm, water-resistant, comfortable, soft, breathable, durable, eco-friendly, and animal-friendly. The Company was previously owned by Prudential Capital Group.
“We are delighted to be partnering with Mike Joyce and the talented team at PrimaLoft and bringing our experience working with valuable consumer brands to the Company,” said Douglas Korn, managing partner of Victor Capital. “The strong and growing reputation of the PrimaLoft® brand and the Company’s history of leadership in developing innovative technologies offer an exciting platform for continued growth. We look forward to helping the management team propel the Company to new levels of success.”
“This is an incredible opportunity to enhance the future of PrimaLoft,” said Mike Joyce, president and chief executive officer of PrimaLoft. “In recent years, we have enjoyed significant growth and further established PrimaLoft as a leading consumer ingredient brand that partners with many of the best outdoor, fashion, and home furnishings companies in the world. Our new partnership with Victor Capital will provide the capital, commitment and operating support to drive our technological innovation and market development to new levels.”
“We would like to thank Prudential Capital Group for the tremendous support they have provided the Company over the past five years,” continued Joyce. “They have been an exceptional partner and a great steward of the business, helping to drive the strategies that have underpinned our growth and position us well for the future.”
Financing for the transaction was provided by Madison Capital Funding, Antares Capital, and Intermediate Capital Group (“ICG”).
PrimaLoft's shareholders were represented by Akin Bay Company, which also provided advice in connection with the financing.
About Victor Capital Partners
Victor Capital Partners is a middle-market private equity firm that invests in branded businesses with compelling growth potential in the industrial and consumer sectors. Victor Capital’s focus areas include industrial manufacturing and technology, industrial and business services, and specialty consumer products and services. Victor Capital seeks to use its capital and resources to partner with companies that have valuable brands, solid foundations in technology, potential for add-on acquisitions, and attractive business and market trends and characteristics. The firm was founded in late 2015 by Douglas R. Korn, a private equity veteran who has been partnering with strong management teams to help build great companies since the late 1980s. For more information on Victor Capital, please visit www.VictorCapitalPartners.com.
The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, protecting approximately 16 million households from life’s uncertainties. Allstate’s Investments team manages over $80 billion of the Allstate companies’ investments and has decades of experience pursuing strategies in a broad array of asset classes and geographies in both the public and private markets. Allstate’s private equity group currently manages more than $6 billion of invested capital deployed in both direct transactions and funds from offices in Chicago, London, and Hong Kong. For more information on the private equity team’s focus, please visit www.allstateinvestments.com/private-equity.html.
About Prudential Capital Group
Prudential Capital Group has been a leading provider of private capital to companies for more than 75 years. Managing a portfolio of nearly $80 billion as of June 30, 2017, Prudential Capital offers senior debt and junior capital, leveraged leases, and equipment financing to companies and projects worldwide. The global office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Milan, Minneapolis, Newark, N.J., New York, Paris, San Francisco and Sydney.* More information is available at prudentialcapitalgroup.com. *The Sydney office operates through PGIM (Australia) Pty Ltd.
About PrimaLoft, Inc.
PrimaLoft, Inc., a materials science company based in Latham, New York with offices in Munich, Germany and Xiamen, China, is the world leader in research and innovative development of comfort solutions with high performance insulations, fabrics and yarns. The PrimaLoft® brand, a registered trademark of PrimaLoft, Inc., delivers feel-good products that are used in the top global outdoor and fashion brands, home furnishings, work wear, hunting and military applications. PrimaLoft® insulation was originally developed for the U.S. army as a water-resistant, synthetic alternative to down. Today, the brand is recognized as a benchmark in the outdoor industry for providing unsurpassed comfort in any condition, ultimately empowering users to stay in the moment. PrimaLoft, Inc. is active in sustainable textile production through partnerships with the bluesign® system, the International OEKO-TEX® Association and the Sustainable Apparel Coalition’s Higg Index. For more information, please visit www.PrimaLoft.com, and follow PrimaLoft on Facebook, Twitter and Instagram.
Contact for Victor Capital Partners:
Doug Allen, Stanton