APCO Holdings LLC, an administrator of finance and insurance products for the auto industry and a portfolio compoany of the Ontario Teachers’ Pension Plan, has purchased National Auto Care, a distributor of finance and insurance products to auto, power sport and RV dealerships, credit unions and other financial institutions, from Lovell Minnick Partners.
NAC is a provider of products such as vehicle service contracts, guaranteed asset protection, limited warranty, tire and wheel and ancillary protection products. The company was founded in 1984 and is based in Ponte Vedra Beach, Fla.
“LMP supported us each step of the way, offering both expertise and resources to help us execute on the vision,” says Courtney Hoffman, senior vice president of mergers and acquisitions at 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. Weil, Gotshal & Manges LLP advised APCO in connection with the transaction.