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LITTLETON, N.H. (October 10th, 2008) — Tender Corp., a leading manufacturer of innovative over-the-counter products designed to enrich the quality of life of consumers around the globe, today announced that it has secured a major investment from private equity firm Prospect Partners, LLC, of Chicago, Ill.
Founded in 1975, Tender Corp. is the manufacturer of AfterBiteÂ® — The Itch Eraserâ„¢, the iconic must-pack bite treatment which continues to be the best selling brand in the bite treatment category more than 30 years after its release. Along with AfterBiteÂ®, Tender produces DEET-based and DEET-free insect repellents under the Ben’sÂ® and NatrapelÂ® brands, respectively. The company also owns AdventureÂ® Medical Kits, which it acquired in 2005 and which remains the premier designer of high-end adventure and survival gear for outdoor enthusiasts.
â€œProspect Partners’ investment in Tender, especially during these challenging economic times, demonstrates the immense confidence it has in our management team’s forward-thinking philosophy and the talent of our employees,â€ says Tender CEO Jason Cartwright.
â€œWith the backing of an experienced partner like Prospect,â€ he added, â€œwe look forward to developing new products and pursuing opportunities that will continue to make Tender a unique and highly successful force in the food, drug, mass and outdoor retail channels.â€
For Prospect Partners, a firm that specializes in investing in unique, growing companies in niche consumer, commercial, manufacturing and specialty distribution and service markets, the investment in Tender represents an opportunity to work with a company that’s active in segments where it currently has no presence.
â€œWhether it’s AfterBite or the myriad high-quality products released through Adventure Medical Kits, Tender has consistently demonstrated an ability to identify and fill yawning consumer needs with innovative and powerful product solutions,â€ says Prospect Partners’ founding principal Rick Tuttle.
In addition to manufacturing, Tender has shown a knack for partnering with other companies that offer unique business opportunities. Earlier this year, it inked an exclusive distribution agreement with Strategic Science Technologies, LLC, creator of HealthiFeetÂ®, a moisturizing cream that helps treat people who suffer from the discomfort associated with neuropathy and poor foot circulation. In August, Tender also signed an exclusive retail distribution agreement with Z-Medica Corp., maker of QuikClotÂ®, the most effective product for stopping traumatic bleeding. Today, QuikClotÂ® is the go-to hemostatic treatment of choice for the U.S. military in Iraq and Afghanistan as well as for emergency medical professionals across the U.S.
â€œThis is an extremely exciting time to be working at Tender,â€ said Cartwright, adding, â€œAs a proud New England-based company, we plan to continue to grow our business from our New Hampshire headquarters and look forward to adding other brands and companies to the Tender family that are consistent with our long-term strategic goals.â€
As per the agreement, going forward, Prospect Partners, Jason Cartwright and other members of Tender’s management team become shareholders of Tender.
About Tender Corporation
Tender Corporation is a privately owned and operated business located in the heart of the White Mountains in Littleton, NH. The company maintains offices and distribution centers in Barrie, Ontario; Rotterdam, Holland; Newbury, England; and Oakland, California. Currently, its products are distributed in over 40 countries. Founded in 1975, the firm manufactures and markets the world-famous insect bite treatment, After BiteÂ® — The Itch Eraserâ„¢, a full line of well-known insect repellents, first-aid treatments, sunburn and windburn products, as well as activity-specific first aid kits and survival gear through its outdoor division AdventureÂ® Medical Kits.
More recently, Tender has established exclusive partnerships with Z-MedicaÂ® (maker of the hemostatic product QuikClotÂ®) and Strategic Science Technologies, LLC (maker of the foot moisturizing cream HealthiFeetÂ®) to distribute their products through various retail channels. The company also maintains a contract packaging division, which produces OTC products for a variety of clients. Many of Tender’s products are packaged in innovative ways that make them extremely convenient to use as well as environmentally responsible. Partial proceeds from the sale of the company’s products go to Tender Corporation’s Environmental Scholarship Fund. Complete product information is available on the company’s web site: www.tendercorp.com.
About Prospect Partner, LLC
Chicago-based Prospect Partners, LLC, is a leading lower-middle-market private equity firm managing two funds totaling $270 million. A highly experienced, active and committed small-company buyer, Prospect Partners has invested nationwide in more than 70 niche companies since its inception in 1998. More information is available on the company’s web site: www.prospect-partners.com
T: 905.763.7137 M: 416.560.9016