APACE Holding Company has acquired the emissions business unit of APC Automotive Technologies.
APC’s board of directors concluded that the transaction would maximize the value of AP Emissions and would enable growth and innovation for the benefit of employees and the wider industry.
APACE is led by Vange Proimos, a veteran of the exhaust and emissions industry, and the former owner, CEO, and executive chairman of AP Emissions. He has served AP Emissions as a board member since Audax’s acquisition of the business in 2014. He continued his service to the business following the acquisition of Eastern Catalytic in 2015 and the formation of APC Automotive Technologies in May 2017 under the combined ownership of Audax and Harvest Partners.
AP Emissions will continue to operate under its current name.
“AP Emissions has a leading platform and a strong position in the aftermarket, and I am excited to work again with its employees to grow the business further by providing high-quality service to customers,” Proimos said.
He said he looks forward to continuing the commercial and operational growth initiatives implemented by the APC Automotive Technologies team led by Tribby Warfield.
Going forward, Centric Parts will operate as APC’s public-facing brand under Warfield’s leadership.
“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,” she said. “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.
AP Emissions Technologies is a leading manufacturer of automotive, light truck, and heavy-duty exhaust and emissions products under the AP, DuraFit, Eastern Catalytic, CATCO, ANSA, Cherry Bomb, DieselTech, DuraFit, Maremont, Xlerator, and Silverline brands, among others.
An AP Exhaust Technologies affiliate, Aristo, offers a full line of Intelligent Catalyst products for on-road, off-road, stationary, industrial, commercial, and marine engines powered by gasoline, diesel, and other fuel sources, making AP the only catalytic converter manufacturer that is fully vertically integrated with respect to catalyst coating technology.
APC Automotive Technologies is a 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 and Centric Parts.