06:03 ET NiTEO Products, a Portfolio Company of Highlander Partners, Acquires Faultless Brands

, /PRNewswire/ -- NiTEO Products, a leading formulator, packager and marketer of household and automotive chemical brands, today announced the acquisition of Faultless Brands ("Faultless") from Architect Equity. Faultless, based in Kansas City, Missouri, for over 138 years, is the leading manufacturer of category defining brands to the household products industry. These brands include Faultless, Niagara and Magic, which are the market share leaders in fabric care, and Bon Ami, a scratch-free powder cleanser known for its ability to clean without harsh chemicals. The transaction supports NiTEO's strategic objective of building and growing a portfolio of high efficacy, branded household and automotive products. The Faultless acquisition will expand NiTEO's Household Products division and further enhance its position as a leading branded products business serving the home care market. John Rabenhorst, NiTEO CEO and a Highlander Principal, stated, "We are excited to combine such an iconic portfolio of brands into NiTEO to accelerate our success as a leader within household products. Faultless, Niagara, Magic, and Bon Ami are highly recognizable, efficacious products that are top performers in their respective categories. We are looking forward to building upon the 138-year-old heritage of the portfolio and continuing to take these brands to new heights." Jeff L. Hull, Highlander President and CEO, said, "This acquisition reconfirms our strategy of executing strategic add-on acquisitions that enhance and expand NiTEO's existing business and branded product offerings in the home care segment. Building a house of brands within the household category to complement our automotive products will allow us to enhance existing NiTEO relationships and unlock additional revenue opportunities for our existing brands. We are continuing to evaluate M&A opportunities and expect to make additional acquisitions going forward."Canaccord Genuity served as exclusive financial advisor to Faultless Brands in the transaction. Monroe Capital LLC provided senior financing facilities and NMP Capital provided mezzanine debt and equity in support of the transaction.About Faultless BrandsFaultless Brands is a collection of consumer products and brands encompassing fabric care, household cleaning, and commercial laundry products. Made in the USA, the Faultless and Niagara starch brands and Bon Ami Cleanser have rich heritages and remain top sellers in today's competitive market. Other Faultless brands include Magic and Kleen King. The company was founded in 1887 and is based in Kansas City, Missouri. For more information, visit faultlessbrands.com.About NiTEO ProductsNiTEO is a premier formulator, packager and marketer of highly regarded household and automotive appearance and performance/maintenance chemical brands. These include APF in the car wash category; CarBrite in the professional appearance category; and the Pyroil, Motor Medic and Cyclo brands in the automotive maintenance and performance category, and FOLEX and OZIUM in the household products category. For more information, visit www.niteoproducts.com.About Highlander PartnersHighlander Partners, L.P. is a Dallas-based private investment firm with more than $3 billion in 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. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. Additional information about Highlander at www.highlander-partners.com.SOURCE Highlander Partners, L.P.