AP Exhaust acquires Eastern Catalytic

GOLDSBORO, N.C. (Oct. 5, 2015) — AP Exhaust Technologies L.L.C. has completed its acquisition of catalytic converter and components maker Eastern Catalytic.

AP, a portfolio company of Audax Group, manufacturrs and supplies automotive, light truck and heavy-duty full line exhaust and emissions products under the AP, CATCO, ANSA, Cherry Bomb, TruckEx, Xlerator and Silverline brands through its Aristo division to the automotive and heavy-duty aftermarket. The company was founded in 1927.

Langhorne, Pa.-based Eastern, founded in 1979, supplies direct fit, universal and manifold catalytic converters for the automotive light duty aftermarket.

Chris Ostrander — CEO of AP Exhaust and former president of Cooper Tire & Rubber Co.'s Americas Operations — said the “combined companies bring two complementary leadership teams that share a commitment to delivering innovation to the aftermarket and going above and beyond to provide best-in-class service and support to our customers.

“Uniting two great companies expands our brand offering, augments our research and development, accelerates our new product development and enhances our on-line catalog capabilities — all of which will enrich our mutual customers' buying experience by bringing products to market faster and providing them the most comprehensive full line offering in the market.”

Young Lee, managing director of Audax Group, said the acquisition “adds another well-recognized brand into the AP portfolio, combining AP's full line exhaust offering and expertise with Eastern's product development capabilities, and it positions us as a leading exhaust and emissions supplier in the North American automotive and heavy duty aftermarket.

“We look forward to working with the AP and Eastern teams to continue building the AP platform through organic growth and strategic acquisitions.”

Audax is an alternative asset management firm specializing in investments in middle market companies. It has offices in Boston, New York and Menlo Park, Calif., and controls more than $6 billion in assets under management in its private equity, mezzanine and senior debt businesses.