Kinderhook Industries Invests in Thermacell Mosquito Repellent Brand for Continued Support and Expansion in Outdoor Industry
OutdoorHub 07.17.14
Kinderhook Industries, a private equity firm based in New York has purchased The Schawbel Corporation, maker of the highly effective zone mosquito defense brand, Thermacell. While terms of the transaction were not disclosed, William Schawbel, founder and owner of The Schawbel Corporation, will continue to be a significant shareholder and board member of Thermacell Repellents Inc., the new name of the company. “We are proud to make innovative insect repellent products and look forward to continuing this tradition,” said Bill Schawbel. “Financial backing from Kinderhook will help us reach our aggressive growth goals and fund investments in marketing and product development.”
“Thermacell has developed tremendous brand equity especially in the outdoor and hunting markets, achieved consistent year over year growth and has demonstrated an ability to selectively expand their business into new markets such as lawn and garden,” said Kinderhook Managing Director Tom Tuttle.
Thermacell has always been a mandatory accessory for successful deer and turkey hunters. The brand has also demonstrated a strong ability to identify new markets for company expansion resulting in unprecedented growth in the repellent industry. “I am excited to partner with the Thermacell management team to upgrade infrastructure and develop innovative, market leading products in the thriving outdoor sector,” said Steve Hill, CEO of Thermacell Repellents. “Our new relationship with Kinderhook will prove invaluable as the Company enters its next stage of growth.” Company sales are at an all-time high driven by unusually high mosquito populations worldwide and the loyalty of hunters and outdoorsmen of all types. In fact, June sales of Thermacell were up almost 40 percent compared to 2013.
The company will continue to be headquartered in Bedford and will be opening an office in the Chicago area. With an eye on a larger slice of the $2B worldwide repellent industry, Thermacell is sold in 30 countries worldwide and will continue to increase its geographic footprint under the guidance of Kinderhook. The brand will continue longtime ties to the outdoor industry such as the successful partnership with Realtree® Outdoors and support the industry through participation, advertising and sponsorships. The Kinderhook transaction does not include Schawbel Technologies with businesses in personal heating and cooling products such as the ThermaCELL Heated Insoles product line.
