The BRAKE Report
  • Home
  • News
    • Automotive
    • Commercial Vehicle
    • Motorcycle/ATV
    • Motorsports
    • Rail
    • Other
  • Interviews
    • Coffee Brake
    • Leadership Spotlight
  • Technical Articles
  • Test Drives
  • Brake Careers
  • Sponsors
  • Subscribe
Monday, April 19
  • About
  • Contact
  • Sponsorship Guide
Facebook Twitter Instagram YouTube LinkedIn
The BRAKE Report
  • Home
  • News
    • Automotive
    • Commercial Vehicle
    • Motorcycle/ATV
    • Motorsports
    • Rail
    • Other
  • Interviews
    • Coffee Brake
    • Leadership Spotlight
  • Technical Articles
  • Test Drives
  • Brake Careers
  • Sponsors
  • Subscribe
The BRAKE Report
Home » Automotive » APC Automotive Technologies Completes Restructuring
Automotive

APC Automotive Technologies Completes Restructuring

The Brake ReportBy The Brake ReportJuly 27, 2020No Comments2 Mins Read
APC Automotive Technologies
  • LinkedIn
  • Twitter
  • Facebook
  • Print

Source: APC Automotive Technologies announcement

LITTLETON, Col. — APC Automotive Technologies, LLC, together with certain of its subsidiaries, announced it has successfully implemented the debt restructuring set out in the Restructuring Support Agreement with its asset-based lenders, term loan lenders, and significant equity holders, following confirmation of the Company’s chapter 11 plan of reorganization by the U.S. Bankruptcy Court for the District of Delaware on July 10, 2020, which became effective July 24th.

As part of the restructuring, the company has reduced the debt on its balance sheet by more than $290 million and secured a new $50 million senior secured term loan to finance its go-forward operations. The current management team, including Chief Executive Officer Tribby Warfield, will continue to lead the company forward and advance its strategic, operational, and growth transformation initiatives.

Related post:
APC Chapter 11 Restructuring Deal Reached with Creditors

“Our successful completion of this restructuring will allow us to better serve our customers and invest in our growth for years to come,” said Warfield. “As we said at the outset of this process, this milestone reflects our continued confidence and that of our stakeholders that we are on track for sustainable, long-term success. We look forward to continuing to build out our culture of high performance, accountability, and contribution that will enable us to deliver that success to our teammates, customers, suppliers, and the aftermarket as a whole.”

About APC Automotive Technologies

APC Automotive Technologies is a leading supplier of automotive, light truck, and heavy-duty replacement parts. Delivering one of the broadest lines of undercar parts in the market, APC provides a comprehensive product portfolio including a full line of exhaust, brake, and chassis parts to traditional warehouse distributors, feeders, retailers, and performance and specialty channels. APC Automotive Technologies offers industry-leading product depth, customer service, and support. The company was formed in May of 2017 by the merger of AP® Emissions Technologies (Goldsboro, N.C.) and Centric® Parts (Carson, Calif.). For more information, visit www.APCAutoTech.com.

The Brake Report
The Brake Report
  • Website
  • Facebook
  • Twitter
  • Instagram
  • LinkedIn

The BRAKE Report is an online media platform dedicated to the automotive and commercial vehicle brake segments. Our mission is to provide the global brake community with the latest news & headlines from around the industry.

Related Posts

Motorcar Parts of America's CEO Selwyn Joffe was recently named to the Federated Auto Parts hall of fame

Joffe, Motorcar Parts of America CEO, Honored by Federated Auto Parts

April 16, 2021
Software can be developed, tested and uploaded directly to vehicles more efficiently and safely.

AWS, Continental Create Platform for Auto Software

April 16, 2021
New radar sensors allow Continental’s new surround radars to detect objects such as crossing vehicles, motorcycles and cyclists early and precisely.

Radar Sensors for 360° Coverage, Longer Range From Continental

April 15, 2021
Industry Partners
Official Media Partner of
About

The BRAKE Report is an online media platform dedicated to the automotive and commercial vehicle brake segments. Our mission is to provide the global brake community with the latest coverage of news & insights from around the industry.

Latest News
Motorcar Parts of America's CEO Selwyn Joffe was recently named to the Federated Auto Parts hall of fame

Joffe, Motorcar Parts of America CEO, Honored by Federated Auto Parts

April 16, 2021
Software can be developed, tested and uploaded directly to vehicles more efficiently and safely.

AWS, Continental Create Platform for Auto Software

April 16, 2021
Translate:

Type above and press Enter to search. Press Esc to cancel.