TCF supports Westhook Capital’s investment in RainShadow Labs

TCF Capital Funding has provided funding to back Westhook Capital's investment in RainShadow Labs.

TCF Capital Funding has provided funding to back Westhook Capital’s investment in RainShadow Labs. No financial terms were disclosed. Headquartered in St. Helens, Oregon, RainShadow Labs is a provider of private label manufacturing services to natural and organic personal care brands.

PRESS RELEASE

DETROIT, Michigan – TCF Capital Funding, a division of TCF National Bank, today announced that it provided secured financing to support Westhook Capital’s investment in RainShadow Labs.

Headquartered in St. Helens, Oregon, RainShadow Labs is a full-service provider of private label manufacturing services to natural and organic personal care brands. Since its founding in 1983, RainShadow has been the pioneer in helping independent brands, entrepreneurs, and skincare professionals custom formulate, manufacture, and launch thousands of successful personal care products into the natural and organics skincare marketplace.

“We are excited to support Westhook’s investment in RainShadow,” said Kevin Nowak, senior vice president at TCF Capital Funding. “RainShadow’s offering of natural formulations and its ability to service an array of order quantities with speed and precision provides compelling value to its customers. We believe the resources that Westhook provides will further enhance that value and promote RainShadow’s continued growth.”

About Westhook Capital: Westhook Capital is a private equity firm based in Los Angeles that invests in and builds valuable businesses primarily in the consumer, industrial, business services, and healthcare services sectors. Founded by professionals with over 50 years of combined experience growing companies as investors, company executives, and advisors through multiple economic cycles, Westhook is targeting 5-6 platform investments for its inaugural fund, Westhook Capital Partners, L.P, with $140 million in commitments. Westhook brings a partnership-driven approach and delivers operational expertise, resources, and investment experience to help companies drive performance and accelerate growth.

About TCF Capital Funding: TCF Capital Funding is a national provider of cash flow-based loans to lower middle market businesses with typically $10 to $150 million in revenue and between $2 million and $15 million in EBITDA. Additionally, TCF Capital Funding focuses on supporting private equity sponsors and family offices in their acquisition or recapitalization of these lower middle market companies. To learn more about TCF Capital Funding, visit tcfbank.com/capitalfunding.

About TCF: TCF Financial Corporation (NASDAQ: TCF) is a Detroit, Michigan-based financial holding company with $48 billion in total assets as of December 31, 2020 and a top 10 deposit market share in the Midwest. TCF’s primary banking subsidiary, TCF National Bank, is a premier Midwest bank offering consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses, and commercial clients. TCF has approximately 475 banking centers primarily located in Michigan, Illinois and Minnesota with additional locations in Colorado, Ohio, South Dakota and Wisconsin. TCF also conducts business across all 50 states and Canada through its specialty lending and leasing businesses. TCF National Bank is an Equal Opportunity Lender. All loans and leases subject to approval. To learn more about TCF, visit ir.tcfbank.com.