Audax and Harvest Form APC Automotive
Summary
As part of the transaction, Harvest provided a new equity investment into the combined business and Audax retained a significant ownership stake in APC. On a combined basis, APC is a supplier of automotive, light truck and heavy duty replacement parts offering emissions products under the AP, ANSA, Cherry Bomb, TruckEx, Xlerator, and Silverline brands, and brake and chassis components under the Centric, C-Tek, Posi Quiet, Fleet Performance, and StopTech brands. 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, a Managing Director at Audax. “We expect our platform to continue to grow through leveraging the combined strengths of both businesses and through future acquisitions in the undercar aftermarket. I am looking forward to working with Dan and the rest of the Centric team to continue delivering exceptional service to our customers and accelerating our growth,” said Mr. Charvat.