Source: APC Automotive Technologies announcement
LITTLETON, Colo. –APACE Holding Company, LLC (APACE) has acquired APC Automotive Technologies’ (APC) emissions business unit AP Emissions.
Following a comprehensive strategic analysis, APC’s Board of Directors concluded this transaction maximizes the value of the AP Emissions business and will enable further growth and innovation into the future for the benefit of employees and the wider industry.
Going forward, Centric Parts will operate as APC’s public-facing brand under Ms. Warfield’s leadership.
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Led by Vange Proimos, a prominent and longstanding veteran of the exhaust and emissions industry, APACE is an ideal strategic acquirer for AP Emissions, which will continue to operate under its current name.
“Today’s announcement is the culmination of a year-long process through turbulent, uncertain times, but I could not be prouder of the team at AP Emissions that persevered and grew the business,” said Tribby Warfield, chief executive officer. “Vange has the skills, experience and deep familiarity with the business to lead it into the future, and I look forward to seeing it prosper under ownership that recognizes the heritage of the iconic brands within the AP Emissions portfolio of businesses.”
Terms of the transaction were not disclosed. King & Spalding LLP served as legal advisor to APC, and Weinsweig Advisors LLC served as its financial advisor. Honigman LLP served as legal advisor to APACE, and Conway MacKenzie served as its financial advisor.
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, NC) and Centric® Parts (Carson, CA). For more information, visit www.APCAutoTech.com.