NMP Capital has announced its latest investment in NiTEO Products, facilitating acquisitions of cleaning companies Folex and Faultless Brands to enhance market presence and product offerings.

Target Information

NMP Capital is pleased to announce a new investment in NiTEO Products, a notable player in the household and automotive chemical sectors and an existing portfolio company of Highlander Partners. This acquisition involves NiTEO's purchase of Folexport, Inc. (operating as Folex) and Faultless Brands. NiTEO Products specializes in the formulation, packaging, and marketing of a broad range of products tailored for household and automotive maintenance.

Folex is renowned for its manufacturing and provision of cleaning products designed for carpets, fabrics, and hard surfaces. Meanwhile, Faultless Brands offers an esteemed portfolio of household product brands, including Faultless, Niagara, and Magic, all of which dominate the fabric care market. Faultless also produces Bon Ami, known for its effective cleaning using non-harsh chemicals, underscoring NiTEO's commitment to quality and innovation within its offerings.

Industry Overview

The household and automotive chemicals industry in the United States is experiencing growth driven by increasing consumer demand for effective and environmentally friendly cleaning solutions. There is a rising trend towards products that n