(Reuters) - Private equity firm Kinderhook Industries LLC announced on Wednesday that it had acquired NitroFill LLC, a U.S. tire inflation company, in partnership with NitroFill Chief Executive Officer Jay Lighter.
The companies did not disclose financial terms. NitroFill, headquartered in Pompano Beach, Florida, offers a tire protection program sold through car dealerships.
In a statement, Lighter said he was eager to embark on NitroFill’s next phase of growth with Kinderhook.
Paul Cifelli, a managing director at Kinderhook, said there were more than 17 million cars sold in the United States this year, and every one of them is a candidate for NitroFill’s products.
“NitroFill has carved out an attractive niche in the tire care industry, yet they have only scratched the surface from a market penetration perspective,” Cifelli said. “The opportunity to invest in expanding the company’s service offerings as well as geographic reach is highly attractive.”
Reporting by Jessica DiNapoli in New York; Editing by Will Dunham