December 14, 2016 / 4:46 PM / in 10 months

Kinderhook Industries invests in tire inflation business

Dec 14 (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

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