Tender Corp., a major provider of insect repellents and other health products to outdoor retailers, said it secured a major investment from private equity firm Prospect Partners, LLC, of Chicago, Ill.
Founded in 1975, Tender Corp. is the manufacturer of AfterBite, a treatment for bug bites and Ben’s and Natrapel DEET-based and DEET-free insect repellents. The company also owns Adventure Medical Kits, a designer of adventure and survival gear for outdoor enthusiasts.
“Prospect 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,” says Tender CEO Jason Cartwright.
“With the backing of an experienced partner like Prospect, we 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.”
For Prospect Partners, a firm that specializes in investing in 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.
“Whether 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,” says Prospect Partners founding principal Rick Tuttle.
In addition to manufacturing, Tender has partnered with other companies that offer unique business opportunities. Earlier this year, it inked an exclusive distribution agreement with Strategic Science Technologies, LLC, creator of HealthiFeet, 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 QuikClot, the most effective product for stopping traumatic bleeding.
QuikClot is currently used by the U.S. military in Iraq and Afghanistan as well as emergency medical professionals across the U.S.
“This is an extremely exciting time to be working at Tender,” said Cartwright, adding, “As a proud New England-based company, we plan
to continue to grow our business from our New Hampshire headquarters and look forward to adding to the Tender family other brands and companies that are consistent with our long-term strategic goals.”
Going forward, Prospect Partners, Jason Cartwright and other members of Tender’s management team are shareholders of Tender.
Tender Corporation is a privately owned and operated business that distributes in more than 40 countries. The company also maintains a contract packaging division, which produces OTC products for a variety of clients.
Chicago-based Prospect Partners, LLC, is a lower-middle-market private equity firm managing two funds totaling $270 million. Prospect Partners has invested nationwide in more than 70 niche companies since its inception in 1998.