Harvest Partners LP and Audax Private Equity have completed the combination of AP Emissions Technologies (AP) and Centric Parts, respectively, to form an automotive aftermarket parts company called APC Automotive Technologies.
APC serves as an undercar parts manufacturing company with a portfolio of aftermarket products. The newly established company brings together the resources of both companies, providing: friction and brakes, exhausts, mufflers, spark arrestors, flex tubes and pipes. As part of the deal, Harvest provided a new equity investment into the combined business and Audax retained a significant ownership stake in APC. Financial terms of the transaction were not disclosed.