Niteo Products LLC, a portfolio company of Dallas, TX-based Highlander Partners L.P., has announced the acquisition of substantially all the assets of Cyclo Industries from Pidilite USA Inc. Highlander Partners is a private investment firm with over $1.2 billion of assets under management. Cyclo, based in Jupiter, FL, is a specialty chemicals company offering a full line of professional car-care product accessories and specialty aerosols in the automotive performance, maintenance, and appearance markets.
All operations will continue to be conducted from the Jupiter facility, and will continue to be led by Cyclo vice president Doug Salazar. “Niteo’s distribution in the major automotive markets of the United States will help to enhance Cyclo’s position in the marketplace and presents us with access to significant opportunities for growth,” Salazar said.
Jeff L. Hull, president and managing partner of Highlander, said, “Closing our fourth acquisition in this space within the last nine months further validates our intent to utilize acquisitions to complement our organic growth efforts.”
Niteo is a 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 and CarBrite, Hi-Tech, and Trans-Mate in the detail, dealership, and auto auction category.