Led by Vange Proimos, a veteran of the exhaust and emissions industry, APACE is an ideal strategic acquirer for AP Emissions, the company says, which will continue to operate under its current name.
Proimos, who will lead AP Emissions following transaction close, has served AP Emissions as a Board member since Audax’s acquisition of the business in 2014. He continued his service to the business following the acquisition of Eastern Catalytic in 2015 and the formation of APC Automotive Technologies in May 2017 under the combined ownership of Audax and Harvest Partners.
“AP Emissions has a leading platform and a strong position in the aftermarket, and I am excited to work again with its employees to grow the business further by providing high-quality service to customers,” said Proimos. “I am grateful to Tribby Warfield for her leadership and stewardship over the past 15 months, and I look forward to continuing the commercial and operational growth initiatives she and her team have implemented at AP Emissions.”
Going forward, Centric Parts will operate as APC’s public-facing brand under Warfield’s leadership.
“Today’s announcement is the culmination of a year-long process through turbulent, uncertain times, but I could not be prouder of the team at AP Emissions that persevered and grew the business,” said Ms. Warfield. “Vange has the skills, experience and deep familiarity with the business to lead it into the future, and I look forward to seeing it prosper under ownership that recognizes the heritage of the iconic brands within the AP Emissions portfolio of businesses.”
The terms of the transaction were not disclosed.