Southfield Invests in APC Integrated

Southfield Capital has made an investment in APC Integrated Services Group, a seller of vehicle service contracts on behalf of automotive dealers and manufacturers.

Through its multichannel marketing services, APC sells vehicle service contracts directly to consumers outside of the point of vehicle sale for original equipment manufacturers, administrators, and dealerships. APC is headquartered west of St. Louis in Chesterfield, MO (www.apcisg.com).

APC’s senior management team including Kyle McEvoy, Ken Murer, David Diem and Todd Johansen will be continuing in their current roles. “In taking the next step for our company, we wanted to find a partner that values quality service delivery above all else,” said APC’s President, Kyle McEvoy. “We have taken the time to build APC through results for our customers, and we knew we could find that with Southfield. We very much look forward to further building our brand in the industry and to enhance our ability to serve the market with an end-to-end solution.”

“Kyle, Ken, David and Todd have built an exceptional business around a core of highly skilled employees and a blue-chip customer base,” said Southfield Partner Andy Cook. “APC has become the leader in vehicle service contract marketing through an attention to detail and dedication to the customer. Southfield looks forward to supporting APC as they expand their service offering to better serve their customers. We could not be more enthusiastic to partner with the APC team as the business goes to the next stage.”

Automotive dealer products and services is a sector that is known to Southfield. In August 2015 it acquired Fairfield, NJ-based Vanguard Dealers Services, an agent and administrator of finance and insurance (F&I) products and services to franchised automobile dealers. Vanguard completed two add-ons in November 2016 with the buys of Syracuse, NY-based Centurion Automotive Products and Barrington, IL-based Dealership Development. Both companies are agents and administrators of F&I products.

Southfield Capital makes control investments in companies that have revenues of $20 million to $100 million and EBITDA of $4 million to $12 million. Sectors of interest include outsourced business services, specialty finance, and value-added distribution. In August 2017, the firm held a final close of Southfield Capital II LP with approximately $200 million in capital commitments. The close was at the fund’s hard cap and exceeded its original target of $175 million. Southfield Capital was founded in 2005 as the successor company to the private investment firm Levison & Company and is headquartered in Greenwich, CT (www.southfieldcapital.com).

© 2018 Private Equity Professional | February 14, 2018

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