M&A Deal Summary

APCO Acquires National Auto Care

On January 3, 2023, APCO acquired business services company National Auto Care from Lovell Minnick Partners and Apogem Capital

Acquisition Highlights
  • This is APCO’s 1st transaction in the Business Services sector.
  • This is APCO’s 2nd transaction in the United States.
  • This is APCO’s 1st transaction in Ohio.

M&A Deal Summary

Date 2023-01-03
Target National Auto Care
Sector Business Services
Buyer(s) APCO
Sellers(s) Lovell Minnick Partners
Apogem Capital
Deal Type Add-on Acquisition

Target

National Auto Care

Westerville, Ohio, United States
National Auto Care is a provider of F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators, and credit unions. National Auto Care focuses on increasing agent and dealer profitability by providing unique F&I products in protected markets. National Auto Care was recently named a Top Workplace in Central Ohio for the third year running and was honored with a 2018 Dealer’s Choice Platinum Award for F&I Products. NAC was founded in 1984 and is based in Westerville, Ohio.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

APCO

Norcross, Georgia, United States

Category Company
Founded 1984
Sector Automotive
DESCRIPTION

APCO is a marketer and administrator of extended vehicle service contracts, warranties, and other related products sold primarily by automobile dealers located throughout the United States. APCO was founded in 1984 and is based in Norcross, Georgia.


DEAL STATS #
Overall 2 of 2
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Ohio M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-05 Covideo

Indianapolis, Indiana, United States

Covideo is a provider of video messaging solutions. Through Covideo, sales and service professionals can record, send and track videos across a variety of channels allowing them to build relationships and convert leads into customers. With an emphasis on personalization and personal connection, Covideo is helping people reimagine business communication. Covideo was founded in 2004 and is based in Indianapolis, Indiana.

Sell -

Seller(S) 2

SELLER

Lovell Minnick Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lovell Minnick Partners is a private equity firm that targets investments in financial services companies located in North America and Europe. Specific areas of interest include asset management, financial planning, financial product distribution, outsource providers, specialty finance, and related administration and business services companies. The Firm looks to commit $40 to $150 million of equity capital per investment. Prospective transaction situations include divestitures, management buyouts, growth capital financings, and recapitalizations. Lovell Minnick was formed in 1999 and is headquartered in Radnor, Pennsylvania.


DEAL STATS #
Overall 29 of 31
Sector: Business Services M&A 4 of 4
Type: Add-on Acquisition M&A Deals 9 of 10
State: Ohio M&A 1 of 1
Country: United States M&A 29 of 29
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-09 London & Capital

London, United Kingdom

London & Capital is a specialist wealth and asset manager working with private and institutional clients. London & Capital support its clients in developing financial strategies, investing with a focus on capital preservation, and providing clear, concise global reporting. London & Capital was founded in 1986 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-02 Definiti

Houston, Texas, United States

Definiti is a provider of retirement services that help companies and their employees maximize their savings. Definiti helps organizations deliver smart retirement solutions to their employees. With hundreds of experts across the country, including in-house actuarial consultants, ERISA attorneys, document specialists and retirement plan consultants, Definiti helps clients redefine what’s possible with workplace retirement plans. Definiti is based in Houston, Texas.

Buy -
SELLER

Apogem Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 48 of 52
Sector: Business Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 19 of 21
State: Ohio M&A 5 of 6
Country: United States M&A 48 of 52
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-11 Parker Food Group

Fort Worth, Texas, United States

Parker Food Group is a manufacturer of custom specialty ingredients used by a wide array of well-known food & beverage companies. Parker’s product offerings include toppings, inclusions, grinds, flavor bases, icings, swirls, and other innovative items. It has built a strong and loyal following thanks to its proven R&D team, flexibility, and capabilities to quickly deliver unique offerings using clean-label, natural, and organic ingredients. Parker Food Group was founded in 1926 and is based in Fort Worth, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-29 American Landscaping Partners

Brentwood, Tennessee, United States

American Landscaping Partners is a provider of landscaping services and offers lawn maintenance, lawn care, snow removal, plant healthcare, and tree services for residential and commercial customers. American Landscaping Partners is based in Brentwood, Tennessee.

Buy -