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PNC Riverarch Capital Invests in A.P.A. Industries, LLC
PITTSBURGH, Pa., February 10, 2023-- PNC Riverarch Capital (“Riverarch”) is pleased to announce an investment in A.P.A. Industries
(“APA” or the “Company”), a supplier of replacement parts to the automotive aftermarket.
APA designs, sources, and distributes a wide range of more than 8,000 automotive parts to a diverse base of warehouse distributor, retail, and eCommerce customers. The Company’s flagship ÜRO Parts brand caters to European vehicles, while the growing Autotecnica brand is focused on Asian and Domestic brands. APA has a strong reputation in these markets for providing OE-quality or better parts at competitive prices. The Company is headquartered in Simi Valley, California.
Riverarch partnered with brothers and APA shareholders Daniel and Michael Seeman on the investment. Daniel and Michael will continue to lead the business.
Daniel Seeman, CEO of APA, commented, “The APA team is pleased to partner with Riverarch. We were looking for an experienced partner that would respect the historical success of the business, while providing the resources to support our growth.” Added Michael Seeman, CFO of the Company, “APA has a number of exciting growth initiatives in process. We’re looking forward to working with Riverarch to fully address our growth potential and to deliver additional value to our customers.”
“We are grateful for the opportunity to partner with the APA team and look forward to building upon their impressive history of success” said Andrew Wiechkoske, Managing Director with PNC Riverarch. Andy Barza, Principal with PNC Riverarch, added “The Company has built its reputation by becoming a ‘go-to’ supplier of high-quality, hard-to-source replacement parts. We’re excited to help the Company continue this tradition while supporting accelerated growth.”
The transaction for PNC Riverarch was led by Andrew Wiechkoske, Managing Director; Andy Barza, Principal; and Peter Heerdt, Associate. Wiechkoske and Barza will represent PNC Riverarch on the Board of Directors. Stifel, Nicolaus and Company advised APA, and senior debt financing was provided by Twin Brook Capital Partners and Manulife Investment Management.
PNC Riverarch is a middle-market private equity firm which invests in privately held companies in North America and Europe. The firm seeks well positioned companies where it can invest in support of leveraged and management buyouts, corporate divestitures, and growth financings. The firm is based in Pittsburgh, Pennsylvania. For more information, please visit www.pncriverarch.com.