Kinderhook Industries, a private equity firm based in New York, has purchased The Schawbel Corporation, maker of the zone mosquito defense brand, Thermacell. 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 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. "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." The company will continue to be headquartered in Bedford, MA and will be opening an office in the Chicago area. The Kinderhook transaction does not include Schawbel Technologies with businesses in personal heating and cooling products such as the ThermaCELL Heated Insoles product line.
