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TCFCF Provides $21MM to Support Kinderhook Acquisition

November 03, 2014, 07:08 AM
Filed Under: Manufacturing

TCF Capital Funding (TCFCF) provided $21 million of secured financing to support the acquisition of Thermacell Repellents by New York-based private equity firm, Kinderhook Industries.  

Thermacell is the developer and manufacturer of the world’s most effective and innovative mosquito repelling devices, utilizing a patented butane powered technology. Thermacell has pioneered a fragrance free delivery system that utilizes heat to vaporize a powerful mosquito repellent, providing up to 98% protection in a 15’ by 15’ zone. Thermacell products are convenient, easy to use and provide superior protection from mosquitos without requiring direct application to the skin.

“We are excited to partner once again with the Kinderhook team and help them increase market penetration of the Thermacell product line both in the US and internationally,” said TCF Capital Funding Senior Vice President Thomas 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. 

Founded in 2003, Kinderhook Industries 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 million to $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.

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