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TCF Capital Funding Provides Financing in Earthlite Acquisition

October 31, 2016, 08:03 AM
Filed Under: Manufacturing

TCF Capital Funding announced it provided secured financing to support Branford Castle Partners, L.P. in their acquisition of Earthlite Massage Tables (“Earthlite” or the “Company”).  Siguler Guff & Company, LP provided mezzanine financing and made an equity co-investment in the deal.

Headquartered in Vista, CA, Earthlite, LLC has over a 20% global market share for massage tables.  The company’s end-customers include most of the leading international hotel chains, many of the leading brands in the fast-growing franchised day spa segment and thousands of individual massage therapists.  Earthlite products have been awarded American Spa Magazine’s “Best Treatment Table” every year from 2010 through 2015.  Furthermore, the company was awarded “Favorite Pedicure Equipment Manufacturer” in 2014 and 2015. The company has a family of six proprietary brands of massage tables that are among the longest-standing and most respected in the market, including Living Earth Crafts, Stronglite, Earthlite and Inner Strength.

“We are excited to partner with the Sponsors and Earthlite’s impressive Management Team to help further expand their diverse customer base and worldwide market penetration” said TCF Capital Funding Senior Vice President Thom Karle.

TCF Capital Funding provides cash flow and asset-based lending to lower middle market businesses.  National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA.

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