( BW)(CA-BRIDGEWATER-CAPITAL) Bridgewater Capital Corp. Announces
Strategic Investment Banking Agreement With ThermaCell Technologies Inc.
Business Editors
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Feb. 25, 1999-- Bridgewater Capital Corp. Thursday announced that is has signed ThermaCell Technologies Inc. (Nasdaq:VCLL) as its newest client.
Bridgewater Capital will provide services for ThermaCell Technologies such as identifying debt and up to $2 million of initial equity financing. In addition, Bridgewater Capital will act as an advising party in order to help ThermaCell further advance with its aggressive acquisition strategy.
ThermaCell Technologies is a vertically integrated manufacturer and marketer of technologically enhanced coating and building materials that provide improved insulation, protection, strength, longevity and value at a lower cost than conventional materials. The company's Web sites located at www.thermacell.com and www.paint-n-stuff.com are two of the first e-commerce sites for the paint industry that are available online today. ThermaCell's expansive product line is used by such prestigious companies as Boeing Aircraft (NYSE:BA), American Airlines (NYSE:AMR) and several NASCAR
auto-racing teams. The company's products are currently distributed through Sherwin Williams (NYSE:SHW), ICI Paints and ACE Hardware to name a few.
Jack Thomsen, partner of Bridgewater Capital stated, "We are very pleased to have such a promising client. ThermaCell Technologies has immediate plans to complete new facilities in order to further expand on its innovative VaxCell(TM) Microsphere technology. Keeping this strategy in mind,Bridgewater Capital's first order of business is to satisfy the company's need for additional equity capital in order to help implement those plans."
Thomsen continued, "Bridgewater Capital is also ready to move forward with advisement on ThermaCell's aggressive marketing, distribution and future acquisition plans. As the company's visibility
increases, by way of its recent increase in retail distribution channels, as well as their successful breakthrough into Internet distribution, we believe that the demand for ThermaCell's products will significantly increase."
"ThermaCell is quite encouraged that Bridgewater Capital is advising our company on a variety of financial issues. It was our intent to choose an investment banker that could advise and perform
extremely well in today's uncertain equity market. Bridgewater Capital has extensive contacts in the financial community which makes us confident that their advice on mergers and acquisitions as well as
equity financing will allow ThermaCell to significantly increase shareholder value," stated John Pidorenko, president and chief executive officer of ThermaCell Technologies Inc.
Bridgewater Capital was founded to specialize in providing solutions to the wave of new emerging growth companies seeking capital. With a primary focus in special situation investments, Bridgewater Capital is dedicated to providing public companies with the investment banking and corporate development services that they need. Bridgewater Capital's services are targeted toward growing the
client company and providing the highest level of service to meet the goals of each individual company.
For more information regarding ThermaCell Technologies Inc. visit the company's Web site at www.Thermacell.com or contact Gary Fishman or Kimberly Boshara at 212/527-4808.
Included in this release are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors.
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CONTACT: Bridgewater Capital Corp., Newport Beach
Jack Thomsen, 949/253-8666
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED BANKING |
