Senior Subordinated Debt Supports J&D Brush Majority Interest Taken by Topspin Partners
NEW YORK December 8, 2015 Praesidian Capital (Praesidian), a leading provider of senior and subordinated debt capital for small and mid-sized companies, announced today it has partnered with a subsidiary of Kemper Corporation (NYSE: KMPR) on senior subordinated debt to support a new majority interest in J&D Brush Company, Inc. by Topspin Partners, a private equity firm focused on control investments in lower middle-market companies. J&D Brush Company Founder and CEO Jeff Rosenzweig will continue to lead the company.
The J&D Brush team and I are excited about working with Topspin and developing a new capital structure to support business growth, Rosenzweig declared. The timing is perfect as we launch our new brands in the professional market.
Based in Hauppauge, New York, J&D Brush is a designer and marketer of professional quality hair brushes and accessories for salons and consumers. Its Wet Brush brand was introduced to Target in 2013 and has quickly become a favorite among professionals and consumers alike.
Topspin Managing Partner Leigh Randall noted that We are glad to bring J&D Brush into our portfolio. We see tremendous growth opportunities with this niche leader in a $1.25 billion market.
We are happy to partner with Kemper on this transaction, stated Praesidian Partner Glenn Harrison. We believe that J&D Brush is positioned favorably and know that Leigh and his team bring a great deal of expertise to the table.
About J&D Brush Company, Inc.
Founded in 1977, J&D Brush began humbly as Jeff Rosenzweig sold products at flea markets. Under Rosenzweigs direction, the company evolved to become a leading designer and marketer of professional quality hair brushes and accessories to global markets. The companys Wet Brush brand holds the top position in hair brush brands sold through the professional beauty channel. Wet Brush was designed for pain-free detangling of any hair type or texture and has received many industry accolades. J&D Brush is based in Hauppauge, New York, about 50 miles from New York City. For more information, please visit www.jdbeauty.com.
About Praesidian Capital
Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in established, small and mid-sized companies often in connection with management buyouts, recapitalizations and refinancings. Based in New York City with an office in London, Praesidian manages nearly $1 billion in committed capital. For more information, visit www.praesidian.com.
The Kemper family of companies is one of the nations leading insurers. With $8 billion in assets, Kemper is improving the world of insurance by offering personalized solutions for individuals, families and businesses. Kemper’s businesses collectively: Offer insurance for home, auto, life, health and valuables; Service six million policies; Are represented by 30,000 agents and brokers; Employ 6,000 associates dedicated to providing exceptional service; and Are licensed to sell insurance in 50 states and the District of Columbia. Through the parent company and its subsidiaries, Kemper invests in various public and private asset classes including private credit strategies. Kemper will partner with traditional private credit fund managers and also look to do direct co-investments alongside those managers. Kemper currently has more than $400 million dedicated to this strategy. To learn more about Kemper, visit www.kemper.com.
About Topspin Partners
Topspin Partners is a suburban NY-based private equity fund that makes control investments in profitable and established lower middle-market businesses. The firm invests across a number of industries, including health and wellness, niche consumer, food and beverage, business services and security. The Topspin team has considerable operational expertise and collaborates with management teams to build businesses of varying stages and sizes. Further information on Topspin can be found at www.topsinpartners.com.
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