National Auto Care to Combine with APCO Holdings, LLC Following Successful Partnership with Lovell Minnick Partners
Summary
Founded in 1984 and based in Ponte Vedra Beach, Florida, NAC is a leading distributor and administrator of F&I products to auto, powersport and RV dealerships, credit unions and numerous other financial institutions. The acquisitions were part of the Company’s strategic plan to develop a vertically integrated business model, with administration and direct distribution capabilities that allow it to act as a “one-stop-shop” for its dealership and financial partners. “ The resources and support that LMP has provided over the last four years have been instrumental in helping us achieve an ambitious set of growth objectives and differentiate ourselves in a competitive market,” said Tony Wanderon, CEO of NAC. As we move into the next chapter, we are excited to unite with APCO, which will enable us to achieve the next set of ambitious growth objectives.” Piper Sandler & Co. and Schulte Roth & Zabel LLP advised LMP and NAC in connection with the transaction. Built on a foundation of financial security and a commitment to understanding our customers needs, APCO is a trusted partner to some of the most well-respected insurers, highly successful dealerships, and leading auto industry players in the country.