Niteo Products, a Portfolio Company of Highlander Partners, Acquires the Motor Medic Family of Products from RSC Chemical Solutions
Niteo Products, LLC, a portfolio company of Highlander Partners, L.P., announced today the acquisition of the automotive chemical products portfolio sold under the Motor Medic® brand from RSC Chemical Solutions. Founded in 2015, through the acquisition of the Valvoline car care assets from Ashland, Inc., and headquartered in Dallas, Texas, Niteo is a leading manufacturer and marketer of automotive fragrance, appearance and performance products.
The Motor Medic® suite of automotive chemical products, including motor flush, starting fluids, fuel additives, transmission fluids, oil additives, injector cleaners, power steering fluids, and cooling system fluids, provides Niteo with another leading brand that is highly complementary to its existing product portfolio. The products are offered in hardware, convenience, mass merchants and automotive retailers throughout North America and internationally. The acquisition of Motor Medic® furthers Niteo's comprehensive automotive chemical product offering and strengthens its complete car care lineup for retailers. The Motor Medic® manufacturing and operations will be conducted from Niteo's existing facilities in Hernando, Mississippi.
Cameron Evans, CEO of Niteo, said, "The addition of the Motor Medic® brand family of products will enhance Niteo's breadth in the automotive chemicals and functional fluids category, adding a strong brand alongside Niteo's existing product offering. We are excited to leverage the brand and continue growing the business."
Jeff L. Hull, President and Managing Partner of Highlander and Chairman of Niteo, added, "The addition of Motor Medic® to our growing family of brands further reinforces our strategy to build a leading business in the automotive fragrance, appearance, performance and maintenance chemical markets. Closing our sixth acquisition in this space within the last three years further validates our intent to utilize acquisitions to complement our organic growth efforts. We continue to evaluate numerous other potential transactions and expect to close additional acquisitions in the future."
About Niteo NITEO is a premier formulator, manufacturer and marketer of automotive fragrance, appearance, performance and maintenance chemical products under several leading brands including: Ozium and Scents, along with a license for the Glade brand in the automotive air care category; AP Formulators and Trans-Mate in the car wash chemical category; CarBrite, Hi-Tech and Trans-Mate in the detail, dealership and auto auction appearance category; and the Pyroil and Cyclo brands, along with a license for the Valvoline & MaxLife brands, in the automotive maintenance and performance chemical category. Niteo offers a comprehensive line of air care products, waxes, polishes, compounds, dressings, soaps, cleaners, solvents, paints and dyes, as well as fuel additives, parts cleaners, starting fluids, brake fluid, power steering fluid, and other functional fluids. For more information, visit www.niteoproducts.com.
About Highlander Partners Highlander Partners, L.P. is a Dallas-based private investment firm with over $2.0 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, building materials, consumer products, and others. Highlander Partners uses a "buy and build" investment approach, creating value by helping companies grow organically and through acquisitions. For more information, visit www.highlander-partners.com.