MPE Partners has bought Hi-Tech Industries from NiTEO Products, a portfolio company of Highlander Partners.
Hi-Tech is a provider of branded professional car care products. The transaction supports NiTEO’s objective of focusing on the growth of its car wash and air care chemical brands.
Hi-Tech’s current President, Nathan Iverson, commented, “I am excited to partner with MPE Partners to accelerate our success as a leader in the professional automotive appearance industry with a focus on growing our business both organically and via M&A. We are very appreciative of the support that Highlander and NiTEO provided during our tenure and are excited to continue our growth with MPE Partners.”
Hennepin Partners served as financial advisor to Highlander Partners, L.P.