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APCO Holdings, LLC Acquires National Auto Care to Create National F&I Force

Industry-leading F&I providers unite

NOCROSS, Ga., Jan. 3, 2023 (GLOBE NEWSWIRE) — APCO Holdings, LLC (“APCO”) is a leading provider and administrator of automotive finance and insurance (“F&I”) products, including EasyCare and GWC Guarantees. It is the home of the brand. , obtained a National Auto Care (“NAC”).

NAC is a recognized provider of F&I products, management, consulting services, training and marketing support. With over 35 years of experience, his NAC provides products and services to thousands of automobile, RV and powersports dealers, credit unions and financial institutions.

“We are excited about all the benefits this acquisition will bring to APCO. APCO Executive Chairman Finbarr O ‘Neill said:

Following the closing of the transaction, NAC CEO Tony Wanderon immediately became CEO of APCO. Former APCO CEO Scott Eisenfelder has resigned as a result of the transaction.

“We thank Scott for his dedicated leadership and progress in this extremely challenging market. Scott has brought immeasurable value to this organization during his tenure,” said O’Neill. “Leveraging his extensive experience in the F&I sector and his track record of building strong businesses to successfully support automotive retail F&I operations and building a strong customer-oriented culture, Tony I look forward to your leadership.”

APCO CEO Tony Wanderon said: “We are all committed to quality and excellence in everything we do. Most importantly, we care about our customers and create a workplace where our employees feel valued while our customers Our goal is to help our dealers optimize their F&I operations, and I am confident that our future is bright.”

The transaction was funded substantially through an equity injection and third-party debt financing by the majority shareholder, the Ontario Teachers’ Pension Plan Board (“Ontario Teachers”). Terms of the transaction were not disclosed.

“We have been APCO’s largest shareholder since 2016 and are excited to continue supporting the company in its next phase of growth. We believe we will create a true leader in the F&I space with a broad product portfolio with channels, prominent brands and multiple organic and M&A growth levers backed by a top leadership team.”

Leveraging APCO and NAC’s shared expertise and complementary services to help dealers meet changing market needs, including the continued emergence of digital retail and EV sales. Extensive mix of F&I product suites enable dealers to generate more revenue through increased sales opportunities, including additional EV products, high mileage products, access to MotorTrend certification programs, and expertise in the RV and powersports industry can be obtained.

RBC Capital Markets acted as lead financial advisor to APCO, with TD Securities, Scotiabank, BMO Capital Markets and CIBC World Markets serving as co-advisors. The debt financing of the transaction was led by Royal Bank of Canada and co-led by TD, Scotiabank, Bank of Montreal and Canadian Imperial Bank of Commerce. Weil, Gotshal & Manges acted as legal counsel to APCO.

About APCO Holdings

Since 1984, APCO has grown to be a leading provider and manager of F&I products for the automotive industry. Built on a foundation of financial stability and a commitment to understanding customer needs, APCO is the nation’s most respected insurer, highly successful dealer and major auto industry player. is a reliable partner of The company markets its products through a network of independent distributors and an in-house sales force that specializes in consulting and servicing the auto dealer market, using EasyCare, GWC Warranty, MemberCare brands and other private label products. I’m here. EasyCare, GWC Warranty and MemberCare F&I products are the industry’s only “MotorTrend® Recommended Best Buy”. It also has the highest rating from the Better Business Bureau, protecting over 11 million customers and claiming over $3.5 billion.

About National Auto Care

NAC is one of the nation’s longest running providers of products such as vehicle service agreements, property protection warranties, limited warranties, tires and wheels, and a complete suite of supplemental protection products. NAC provides F&I products, management, consulting services, training and marketing support to independent agents, insurance companies, auto dealers, RV dealers, powersports dealers, financial institutions, third party administrators and credit unions. increase.

About the Ontario Teacher Pension Plan

Ontario Teachers’ is a global investor with net worth of $242.5 billion as of June 30, 2022. We invest in a wide range of assets including public and private equity, fixed income, credit, commodities, natural resources and infrastructure in over 50 countries. , real estate and venture growth to bring retirement income to 333,000 workers and pensioners.

With offices in Hong Kong, London, Mumbai, San Francisco, Singapore and Toronto, our 400+ investment professionals bring deep expertise to industries ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan that has earned an annual gross fund net return of 9.6% since the plan’s inception in 1990. At Ontario Teachers’, we don’t just invest to make a profit, we invest in the teachers we serve, the companies we support, and a better future for the world we live in. For more information, Follow us on Twitter @OtppInfo.

CONTACT: Jennifer Haddow APCO Holdings, LLC. 7703565374

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