Thane International Eyes Guthy-Renker Buy
Thane has a multi-million dollar capital base, having recently received a significant base from H.I.G., a private investment firm in Miami. Terms of the deal were not disclosed.
"[H.I.G.] brings to us significant resources and acquisition experience, which should help us in our efforts to continue growing our business through funding of infomercials and other project initiatives," said Bill Hay, CEO of Thane.
Thane has boasted top-selling DRTV products including Orbitrek, an elliptical exercise device, and BioSlim dietary supplements in the last couple of years. The company generates $2 million a year in sales from the Internet. The company's Web site is promoted in its infomercials. It spends $30 million a year on media for its infomercials, according to the company.