BB&T Capital Markets Serves as Exclusive Financial Advisor to Ashland Inc. in its Sale of Valvoline’s Car Care Products Assets to Highlander Partners, L.P.
On June 30, 2015, Niteo Products, LLC, a newly-formed affiliate of Highlander Partners, L.P., acquired Valvoline’s car care products assets from Ashland Inc. BB&T Capital Markets served as the exclusive financial advisor to Ashland Inc.
About the Companies
Ashland Inc. (NYSE: ASH) is a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. Through its three commercial units - Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline – the Company uses good chemistry to make great things happen for customers in more than 100 countries.
NITEO™ is a premier formulator, packager, and marketer of automotive appearance and maintenance brands for above and below the hood. The company is committed to delivering products with unsurpassed performance and protection that make any project easier.
Highlander Partners, L.P. is a Dallas-based private investment firm with over $1 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, building materials, consumer products, and others. Highlander Partners uses a "buy and build" investment approach, creating value by helping companies grow organically and through acquisitions.
BB&T Capital Markets is the leading investment bank to the automotive aftermarket. We provide unparalleled industry expertise and transaction execution throughout the entire aftermarket channel - from suppliers and distributors to retailers and professional installers - in every segment of the $300 billion industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.