Centerbridge Partners Portfolio Company KIK Custom Products Completes Acquisition of Prestone Group
Prestone, headquartered in Lake Forest, Illinois, is the leading branded antifreeze and coolant company in North America, serving customers in a variety of auto aftermarket channels. Prestone also holds leading market positions in wiper fluids, de-icers, brake and power steering fluids. Holts, headquartered in Manchester, England, provides a full line of auto repair and maintenance products, including tire sealants, paint touch-up, appearance and other car care products to customers principally in the U.K and Ireland, mainland Europe, South Africa, and Japan.
Mr. Hart’s Rank Group acquired Prestone Group in 2011 as part of the larger acquisition of the automotive consumer products business of Honeywell International Inc., which was subsequently combined with UCI International, Inc. to form the UCI-FRAM Group.
Sawaya Segalas & Co., LLC and Nomura Securities International, Inc. acted as financial advisors to Autoparts Holdings Limited and UCI Holdings Limited on this transaction.