August 5, 2005
Boston, MA - Capstone Partners LLC, a national investment banking advisory firm, announced today that it has provided financial and strategic advisory services to Khameleon Nails, Inc. during the completion of the company’s Series A equity financing. Capstone assisted Khameleon with valuation services while working with management to refine the company’s strategic growth and financing plans.
“The company’s self-puttying finish nail technology has the potential to be a disrupting force in the hardware and tooling sector,” said Capstone’s vice president Jacob Voorhees. “Khameleon’s product will yield builders significant time and resource savings across a large, growing market with vast applications.”
“Having closed on our Series A financing with the support of the local investment banking community, Khameleon will become more aggressive in the commercialization of our nail technology,” said Jeff Strunk, chief executive officer of Khameleon. “These latest developments will serve as a springboard to help build out our core team and form strategic partnerships in the market in anticipation of our initial product launch.”
Khameleon Nails, Inc., headquartered in Carrabassett, Maine, has developed a new technology to produce self-puttying finish nails to serve the residential home, renovation and industrial markets. The Company estimates that the domestic nail market exceeds $23 billion while retail specific applications account for over $250 million of nail usage.