AP Emissions Technologies and Centric Parts Combine, Creating APC Automotive Technologies
 
 
(New York and Boston - May 10, 2017) -- Harvest Partners, LP (“Harvest”) and Audax Private Equity (“Audax”) today completed the combination of AP Emissions Technologies (“AP”) and Centric Parts (“Centric”) to form APC Automotive Technologies (“APC” or the “Company”). As part of the transaction, Harvest completed a new equity investment into the combined business, and Audax retained a significant ownership stake in APC. Both firms have extensive experience in the automotive aftermarket and will provide their joint resources to support APC. Terms of the transaction were not disclosed.
 

apc-automotive-technologies.pngAPC offers a comprehensive product portfolio including full line exhaust, friction and brakes, and chassis to traditional warehouse distributors, feeders, retailers, performance, and specialty channels. Both businesses will continue to offer their industry leading product depth, customer service, and support.

 

Hugh Charvat will lead the combined business as Chief Executive Officer; Dan Lelchuk, who co-founded Centric Parts in 2000, will remain President of Centric Parts.

 

“We expect our platform to continue to grow through leveraging the combined strengths of both businesses and through future acquisitions in the undercar aftermarket to provide a comprehensive offering to our customers. I am looking forward to working with Dan and the rest of the talented Centric team to continue delivering exceptional service to our customers and accelerating our growth,” said Charvat.

 

“This is a transformational event for our customers, employees, and suppliers as APC will provide one of the broadest undercar offerings in the market. This combination will help accelerate our growth by providing a true one-stop-shop experience for our customers,” added Lelchuk.

 

“We have been privileged to work with both the AP and Centric teams in developing leading aftermarket platforms. Together with Harvest, we look forward to expanding APC through leveraging the strengths of AP and Centric and continuing to acquire leading brands in the undercar aftermarket.” said Young Lee, Managing Director at Audax.

 

Michael DeFlorio, Senior Managing Director at Harvest, added, "AP and Centric are leaders in their industry, with longstanding track records of supplying high-quality parts to their customers. We are excited to partner with Audax and the management team and look forward to supporting APC in its next phase of growth.”

 

Jefferies LLC advised AP, and Lazard Middle Market LLC and Angle Advisors advised Centric. Kirkland & Ellis, LLP provided legal counsel to AP and Centric. White & Case, LLP served as legal counsel to Harvest.

Financing for the transaction was provided by Jefferies, Goldman Sachs, and Crescent Capital Group. Terms of the agreement were not disclosed.
 
For more information, visit CentricParts.com and StopTech.com, and be sure to follow StopTech and Centric on FacebookTwitterPinterestInstagram and YouTube for all the latest StopTech and Centric Parts news.
 
About Centric Parts®
Centric Parts® is North America’s leading manufacturer and supplier of aftermarket brake and chassis components for passenger vehicles, light and medium duty trucks, fleet vehicles, high performance vehicles and race cars under the Centric®C-Tek®Posi Quiet®Fleet Performance and StopTech® labels. Through its StopTech and Qualis Automotive divisions, Centric also supplies components and systems to dozens of OEM and private label customers. With an unparalleled level of research and development in North America, Centric leads the industry in brake and chassis technology innovation, having earned several patents and dozens of industry accolades along the way. The company has enjoyed solid annual growth since being founded in 2000, and now operates multiple nationwide facilities encompassing over one million square feet of office, warehouse and manufacturing space.
 

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