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Niteo Products sells Eagle One brand to HandStands

Published 02 May 2016

Niteo Products, a portfolio company of Highlander Partners, has sold assets of its retail automotive appearance chemicals brand, Eagle One, to HandStands, a portfolio company of Trivest Partners.

The Eagle One brand has been an automotive appearance pioneer for over 30 years, offering a full line of technologically advanced washes, waxes, protectants and accessories designed for better performance, more shine and enduring protection.

Niteo chairman and Highlander managing partner Jeff L. Hull commented, "The sale of this business is in line with Niteo's overall strategy of growing its car wash, auto dealership, auto auction and professional detailer business through Niteo's other brand, Car Brite, as well as growing our performance fluids brands.

"Eagle One is a great brand and has a very good presence in retail distribution channels. Our focus is on professional products, and we believe that Eagle One is a much better fit for HandStands and their current consumer product offering."

Niteo's CEO Terry Morgan said: "We intend to use the proceeds from the sale to acquire additional appearance brands in the professional, car wash and industrial channels to continue our growth in those categories.

"The sale of Eagle One will allow us to focus our efforts on expanding those channels."

HandStands' CEO Chris Anderson said: "We are thrilled to add this legendary car care brand to HandStands' growing roster of automotive appearance and fragrance products.

"With a full range of interior and exterior car care solutions, a strong pedigree of innovation, and a well-earned reputation for performance, Eagle One is a perfect fit for HandStands."

Trivest Partner and HandStands Chairman Russ Wilson said: "The acquisition of Eagle One, a well-respected consumer car care brand, further broadens and diversifies HandStands' presence in the growing automotive appearance category.

"This transaction furthers HandStands' mission to be a valued retail partner in both the vehicle air freshener and automotive appearance categories."

Source: Company Press Release