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PRESS RELEASE: Beringea Invests in Grand Rapids, Mich.-Based Ranir, LLC
April 21, 2009
FARMINGTON HILLS, Mich. — Beringea announced a $4 million investment in Ranir, LLC, a leading manufacturer of consumer oral care products. The investment in the Grand Rapids-based company was made through Beringea’s InvestMichigan! Growth Capital Fund to help finance the acquisition of the Plackers® brand product line, further increasing the Company’s customer base and expanding its size and scope. Ranir currently manufactures and markets consumer oral care products to leading retail customers and branded oral care companies in North America; products include tooth-whitening wraps, trays and gels, manual and power toothbrushes, dental floss and flossers, night protectors, and other oral care accessories.
“The investment helps facilitate growth for a company that already employs over 400 people in West Michigan,” Jeff Bocan, managing director of Beringea, commented. “We’re excited to help this long-time Michigan company extend its market leadership into new product categories, allowing Ranir to continue its impressive rate of growth.”
Ranir is the fourth Michigan-based company to be added to the InvestMichigan! Growth Capital Fund’s portfolio. Others include Marquette-based Pioneer Surgical Technologies, Lansing-based EcoSynthetix and Auburn Hills-based Microposite. www.investmichiganfund.com
About Ranir, LLC
Ranir, founded in 1979 and based in Grand Rapids, Mich., manufactures and markets consumer oral care products in North America. It offers manual and power toothbrushes, dental floss and flossers, tooth whiteners, trial-sized products, travel kits, and accessories to retailers as well as branded contract manufacturing customers. www.ranir.com
Beringea, LLC provides equity and/or mezzanine debt to small- and-middle market companies. The Firm, which includes Michigan-based Beringea, LLC and its London, UK office Beringea LLP, invests in portfolio companies operating in a range of sectors, including health care, clean technology, manufacturing, media, Internet technologies and specialized consumer products.
With flexible capital solutions, extensive investing experience and offices in the U.S. and UK, Beringea’s team offers its portfolio companies the resources to grow their businesses and create value for shareholders. For more information, visit www.beringea.com.
In the United States of America, Beringea operates as an SEC-registered investment advisor, Beringea, LLC. In the United Kingdom, this document is issued by Beringea LLP, a firm authorized and regulated by the Financial Conduct Authority. Beringea LLP is a limited liability partnership registered in England and Wales with company number OC342919, and its registered office is at 39 Earlham Street, London, WC2H 9LT, UK. This document is intended solely to provide information regarding Beringea’s potential financing capabilities for prospective portfolio companies.