Armored AutoGroup Acquires IDQ From Kinderhook
Armored AutoGroup Parent Inc. (“Armored AutoGroup”), a leading manufacturer of car care products primarily under the Armor All® and STP® brands, has announced that it has acquired a leading manufacturer of do-it-yourself air conditioner recharge products, IDQ Acquisition Corp. (“IDQ”).
IDQ is and was previously owned by an affiliate of Kinderhook Industries, LLC. Armored AutoGroup is controlled by Avista Capital Partners.
Financial terms of the transaction were not disclosed.
IDQ products include air conditioning recharge and retrofit kits, premium refrigerant blends, specialty chemicals, straight refrigerants and a wide range of complementary do-it-yourself and professional-use items.
They are branded under labels including A/C PRO®, Arctic Freeze®, Sub Zero® and Super Seal Stop Leak® and are sold through approximately 25,000 retail stores.
In connection with the transaction, Dave Lundstedt, who has served as Chairman and CEO of Armored AutoGroup since its separation from Clorox in 2010, will be named Chairman of the combined business and Michael Klein, CEO of IDQ, will be named CEO.
Category: General Update, Management
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