Auto Service World
News   March 2, 2007   by Auto Service World

Ford Agrees to Sell APCO

Ford Motor Company announced today that it has entered into a definitive agreement to sell Automobile Protection Corporation (APCO) to Trident IV, L.P., a private equity fund managed by Stone Point Capital LLC.
This transaction is the result of the review of strategic options for the business announced by Ford on October 11, 2006.
The sale is expected to close during the second quarter and is subject to customary closing conditions, including applicable regulatory approvals.
Terms and conditions specific to the agreement are not being disclosed at this time.
APCO, a wholly-owned subsidiary of Ford Motor Company, was purchasedby Ford in July 1999.
APCO offers vehicle service contracts and related after-market products to dealers of all makes and models.
Stone Point Capital is a global private equity firm based in Greenwich, Connecticut that manages the Trident Funds and has raised more than $8 billion in committed capital to make investments in the global insurance and financial services industries.

Print this page


Have your say:

Your email address will not be published. Required fields are marked *