APCO is a marketer and administrator of auto extended warranties sold through auto dealers in North America.
Automobile Protection Corporation (APCO) is a leading marketer and administrator of vehicle service contracts (VSCs) and complementary products sold by auto dealers in the U.S. and a network of independent and captive agents that specialize in serving the auto dealer community.
INDUSTRY KNOWLEDGE & NETWORK
Stone Point has been studying the warranty and extended service contract administration industry as an “elephant” since 2000.
INTRODUCTION TO CLIENTS & PARTNERS
Stone Point provided APCO with executive-level introductions to insurance carriers as well as senior-level introductions to lenders and institutional investors.
Stone Point assisted with the structuring and financing of several key acquisitions, including the acquisitions of GWC Warranty Corporation in 2013 and Automobile Development Group in 2016.
BUSINESS & PRODUCT DEVELOPMENT
With Stone Point’s guidance and an infusion of capital, APCO invested in new products during the financial downturn that ultimately enabled the company to recover quickly when the market conditions became more favorable.
CAPITAL RAISING & STRUCTURING
Stone Point worked with APCO to complete several debt-financed transactions, including debt recapitalizations, dealer-advance financing and the sale-leaseback of the building housing the company’s headquarters.
Stone Point was instrumental in negotiating the sale of APCO to a partner who is able to add significant value. Stone Point retained an equity interest in APCO and facilitated the transition to the buyer.
Stone Point Capital quickly became much more than an investor or partner to APCO. Chuck and the team are people you can count on to back you through the best and worst of times. Even at our most challenging moments, our team always felt the support from Stone Point and their unparalleled passion to help us succeed… and, they did.
Investments highlighted or discussed in this selection have been selected to illustrate SPC’s investment approach and/or market outlook and are not intended to be an indicator of past or future performance. Each investment discussed in this selection has been selected solely for this purpose and has not been selected on the basis of performance or any performance-related criteria. The investments discussed herein do not represent an entire portfolio and in the aggregate may only represent a small percentage of holdings. Nothing in this presentation shall constitute a recommendation or endorsement to buy or sell any security or other financial instrument referenced herein.