Ontario Teachers to acquire majority stake in APCO Holdings
Ontario Teachers' Pension Plan has agreed to acquire a majority interest in APCO Holdings Inc, a marketer and administrator of vehicle service contracts sold by auto dealers across the United States. No financial terms were disclosed for the deal, which is expected to close in December. U.S. private equity firm Stone Point Capital, which has backed Norcross, Georgia-based APCO since 2007, will remain a shareholder in the business. Jane Rowe, Ontario Teachers' senior vice-president, private capital, said the company is positioned to benefit from favourable industry dynamics and recent organic and acquisition-led growth.
17 November 2015•4 mins read
