NORCROSS, GA, Nov. 17, 2015 (GLOBE NEWSWIRE) — APCO Holdings, Inc. (APCO), a arch banker and ambassador of agent account affairs (VSCs) awash by franchised and absolute auto dealers throughout the U.S., today appear that it has entered into a absolute acceding for a majority pale of the aggregation to be acquired by Ontario Teachers’ Alimony Plan (Ontario Teachers’). Following the transaction, assertive of APCO’s shareholders, including the company’s chief administration and funds managed by Stone Point Basic LLC, will abide shareholders in the business. The transaction, which is accountable to accepted closing conditions, is accepted to aing in December. APCO will abide to be operated as a abstracted business operation with the accepted administration aggregation actual in place.
“We appetite to acknowledge Stone Point Basic for their affiliation over the accomplished years. We accept been actual advantageous to accept had the befalling to be with them and apprentice from their apple chic organization. We additionally acknowledge their connected vote of aplomb as they abide a cogent broker in APCO’s future,” said Larry Dorfman, Chief Executive Officer of APCO. “Our approaching affiliation with Ontario Teachers’ is an agitative new affiliate for APCO and our bazaar arch brands: EasyCare and GWC. Ontario Teachers’ will be a admired adeptness for basic and accord to APCO as we abide to abound our business and accomplish our mission to transform the dealership experience.”
“APCO has an adorable and adapted business archetypal and is able-bodied positioned to account from favorable dynamics in its industry,” said Jane Rowe, Ontario Teachers’ Chief Vice-President, Clandestine Capital. “We attending advanced to acknowledging the able administration aggregation that has accurate its adeptness to abound the business organically and through acquisitions.”
“We accept enjoyed a agitating affiliation with the APCO aggregation over the accomplished eight years. We accept formed with the aggregation to complete several acquisitions, including the 2013 accretion of GWC Warranty Corporation, which decidedly added APCO’s scale, adapted its artefact offerings and added administration depth. We appetite to acknowledge Larry Dorfman, John Lee, Rob Glander and the blow of the APCO aggregation for their leadership. We attending advanced to accommodating in the company’s connected success with our ally at Ontario Teachers’,” said Chuck Davis, Chief Executive Officer of Stone Point.
About APCO Holdings, Inc. (APCO)
APCO, accustomed in 1984, is a arch banker and ambassador of continued agent account contracts, warranties and added accompanying articles awash primarily by auto dealers amid throughout the United States. APCO has broadcast its offerings over the aftermost decade to accommodate bazaar arch video e-mail and account chump CRM technology, as able-bodied as arch bend training for dealership sales and accounts teams. The aggregation markets its articles application the EasyCare and GWC brands, as able-bodied as added clandestine characterization auto architect brands, through a arrangement of absolute agents and an centralized salesforce that specialize in consulting with and application the automotive dealership markets. EasyCare and GWC Warranty are the alone “Motor Trend Recommended Best Buy” brands in the automotive aftermarket. For added advice about APCO, see www.gwcwarranty.com and www.easycare.com.
About Ontario Teachers’ Alimony Plan
Ontario Teachers’ Alimony Plan (Ontario Teachers’) is Canada’s better single-profession alimony plan, with $154.5 billion in net assets at December 31, 2014. It holds a assorted all-around portfolio of assets, 80% of which is managed in-house, and has becoming an annualized amount of acknowledgment of 10.2% back the plan’s founding in 1990. Ontario Teachers’ is an absolute alignment headquartered in Toronto. Its Asia-Pacific arena appointment is amid in Hong Kong and its Europe, Middle East and Africa arena appointment is in London. The plan, which is absolutely funded, invests and administers the pensions of 311,000 alive and retired agents in the arena of Ontario. For added information, appointment otpp.com and chase us on Twitter @OtppInfo.
About Stone Point Basic LLCStone Point Basic LLC is a banking services-focused clandestine disinterestedness close based in Greenwich, CT. The close has aloft six clandestine disinterestedness funds – the Trident Funds – with accumulated committed basic of about $13 billion. In accession to the basic invested by the Trident Funds, Stone Point has anchored about $7 billion of disinterestedness co-investments back 2001. Stone Point targets investments in the all-around banking casework industry, including investments in companies that accommodate outsourced casework to banking institutions, banks and archive institutions, asset administration firms, allowance and reinsurance companies, allowance administration and added insurance-related businesses, specialty lending and added acclaim opportunities, mortgage casework companies and agent allowances and healthcare companies. For added advice about Stone Point, amuse appointment Stone Point’s website at www.stonepoint.com. CONTACT INFORMATION:Michael PerrettVP and General CounselAPCO Holdings, [email protected]
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