/PRNewswire/ MPE Partners ("MPE" or "Morgenthaler Private Equity") announced today the recapitalization of Hi-Tech Industries ("Hi-Tech" or the "Company"),.
MPE Partners has recapitalized Hi-Tech Industries, a provider of consumable vehicle detailing and reconditioning products to the professional and do-it-yourself markets.
MPE is buying Hi-Tech Industries from NiTEO Products, a Mississippi-based maker of automotive care and maintenance products that is backed by Dallas private equity firm Highlander Partners.