APCO Holdings, parent company of Easy Care, has acquired National Auto Care, according to an announcement by Lovell Minnick Partners, a private equity firm focused on investments in financial services, financial technology and related business services.
The transaction marks the completion of a successful partnership between LMP and NAC that began just over four years ago. During that time period, NAC grew aggressively to become one of the leading national F&I platforms in the industry.
Founded in 1984 and based in Ponte Vedra Beach, Florida, NAC is a leading distributor and administrator of F&I products to auto, powersport and RV dealerships, credit unions and numerous other financial institutions.
Over the past four years, in partnership with LMP, NAC has rapidly expanded its business through a combination of organic growth initiatives and strategic acquisitions. Since 2020, NAC has completed 21 acquisitions, further diversifying the company into new product lines, geographies and service offerings. The acquisitions were part of the company’s strategic plan to develop a vertically integrated business model, with administration and direct distribution capabilities that allow it to act as a “one-stop-shop” for its dealership and financial partners.
“The resources and support that LMP has provided over the last four years have been instrumental in helping us achieve an ambitious set of growth objectives and differentiate ourselves in a competitive market,” said Tony Wanderon, CEO of NAC. “We are confident that by combining the platform we built with LMP with the deep experience and expertise of APCO, we will create the leading F&I platform in the industry.”