CapVest-backed Recochem completed the acquisition of auto care business from Centerbridge Partners-backed KIK.

CapVest-backed Recochem, an automotive liquid solutions provider, completed the acquisition of auto care business from Centerbridge Partners-backed KIK Consumer Products, a manufacturers of consumer products. Financial terms were not disclosed. "We are very excited about the opportunity to create a world-class, consumer centric automotive group that can deliver the very best solutions for our customers. Recochem, Prestone and Holts are highly complementary businesses, and the combined platform will offer customers a wide range of products across multiple categories that are experiencing consistent long-term growth. Today's transaction will provide the enlarged business and individual business units with significant opportunities to expand, develop and broaden our relationships with our key partners," Shawn Davies, Recochem CEO.