Niteo Products, a Portfolio Company of Highlander Partners, Acquires Trans-Mate
DALLAS, Nov. 18, 2016 /PRNewswire/ -- Niteo Products, LLC, a portfolio company of Highlander Partners, L.P., announced today the acquisition of Trans-Mate, LLC. Trans-Mate, based in North Billerica, Massachusetts, is a leading formulator of a complete line of vehicle appearance products serving car wash and detailing professionals.
All operations will continue to be conducted from the North Billerica facilities where all formulating and distribution takes place, and will continue to be led by Trans-Mate's current President, Steve Stockman. Mr. Stockman commented, "I am excited to partner with Niteo Products to further our strong success as a leader in the professional automotive appearance chemicals market in the Northeast and to add to our resources to allow us to grow our business in other markets. The Trans-Mate team has built an incredible company and we look forward to the benefits of combining with Niteo."
Terry Morgan, Niteo's CEO, said, "Bringing Trans-Mate's outstanding appearance product lineup into the comprehensive portfolio of Niteo Products, together with the recently acquired product line of AP Formulators, further builds upon our growing importance and leadership within the professional detailer and car wash space. The acquisition of Trans-Mate provides us with vital distribution access to the Northeastern, Mid-Atlantic and Southeastern states and adds to our ability to service customers across our complete product offering nationally. We are excited to partner with Steve to extend and grow the Trans-Mate business and to further penetrate our core markets."
Jeff L. Hull, Chairman of Niteo Products and Managing Partner of Highlander, said, "The addition of Trans-Mate to our growing family of brands further reinforces Niteo's strategy to build a leading business in its core target segments including car wash, auto dealership, auto auction and professional detailer markets. Closing our second acquisition within less than a month 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 near future."
About Niteo
NITEO is a premier formulator, manufacturer and marketer of automotive appearance and maintenance chemical products under several leading brands including AP Formulators and Trans-Mate in the car wash category as well as CarBrite and Trans-Mate in the detail, dealership and auto auction category. In the retail automotive maintenance and performance chemical industry, Niteo owns the Pyroil brand and is a licensee of the Valvoline & MaxLife brands. Niteo offers a comprehensive line of 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 $1.2 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.
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SOURCE Niteo Products, LLC
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