Prospect Partners has sold its interest in Tender Corporation (Tender), of Littleton, N.H., to Victor Capital Partners.
A leading player in the recreational outdoor products market, Tender develops, manufactures, and sells essential personal care, survival, and first aid products under a portfolio of niche, premium brands, including AfterBite®, the best-selling bite treatment in North America; Ben’s® and Natrapel®, both top-selling insect repellents; The Itch Eraser®, a new itch relief offering; and Adventure Medical Kits®, the market leader in outdoor-focused first aid.
“Tender has been a successful investment for Prospect Partners, delivering consistent top-line growth across all of its core brands and channels,” said Brad O’Dell, a principal of Prospect Partners. “With well-recognized brands consumers trust, strong distribution, and its focus on product innovation, Tender is well-positioned for continued growth with its new capital partner.”
Tender’s products are sold in more than 40 countries worldwide at over 35,000 retail locations, including food, drug and mass merchandisers, outdoor and sporting goods stores, and promotional product distributors. Jason Cartwright, Tender’s CEO since 2000, will continue to run the company and remain a meaningful shareholder.
“It has been a pleasure working with Jason and his management team,” said Rick Tuttle, a founding principal of Prospect Partners. “They built the company into the clear market leader for outdoor health and safety products and created a loyal following of passionate outdoor enthusiasts who are vocal advocates for the Tender brands.”
Added Tender’s CEO Cartwright, “Prospect Partners was an excellent partner throughout our tenure together. The team supported our vision and our growth strategy, which included multiple acquisitions, a state-of-the-art new 117,000-square-foot facility, and significant investment in brand development and marketing. We are excited to continue to further build the Tender platform in the years to come.”
To discuss related opportunities, please contact Brad O’Dell or Rick Tuttle.