M&A Deal Summary

American Covers Acquires Eagle One

On April 29, 2016, American Covers acquired chemicals company Eagle One from Niteo

Acquisition Highlights
  • This is American Covers’ 1st transaction in the Chemicals sector.
  • This is American Covers’ 3rd transaction in the United States.
  • This is American Covers’ 1st transaction in Kentucky.

M&A Deal Summary
Date 2016-04-29
Target Eagle One
Sector Chemicals
Buyer(s) American Covers
Sellers(s) Niteo
Deal Type Divestiture

Target

Eagle One

Lexington, Kentucky, United States
Eagle One is a provider of technologically advanced washes, waxes, protectants and accessories designed for better performance, more shine and enduring protection.

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Buyer(S) 1

Buyer

American Covers

Draper, Utah, United States
Category Company
Founded 1983
Sector Consumer Products
DESCRIPTION

American Covers, Inc. (dba Handstands) is a designer and supplier of automotive air freshener products sold through mass and aftermarket automotive channels.

DEAL STATS #
Overall 3 of 3
Sector (Chemicals) 1 of 1
Type (Divestiture) 2 of 2
State (Kentucky) 1 of 1
Country (United States) 3 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-02 California Scents

Irvine, California, United States

California Scents, Inc. is a manufacturer and distributor of home and automotive air fresheners, and is well known for its “powerful scents in a little can.”

Buy -

Seller(S) 1

SELLER

Niteo

Hernando, Mississippi, United States
Category Company
Sector Automotive
DESCRIPTION

Niteo manufactures and distributes a full line of automotive appearance, performance and maintenance chemicals, under the brand names of Car Brite, Motor Medic and Pyroil, including tire & wheel care, degreasers, waxes, polishes, interior cleaners, fuel system additives and other functional fluids. Niteo is based in Hernando, Mississippi.

DEAL STATS #
Overall 1 of 2
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 2
State (Kentucky) 1 of 1
Country (United States) 1 of 2
Year (2016) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-13 AP Formulators

South Houston, Texas, United States

AP Formulators, Inc. is a formulator of a full line of car wash chemicals serving self-serve, automatic and express/full service car washes.

Buy -
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