The Parts Authority is one of the largest distributors of automotive and truck parts on the East Coast. Parts Authority has locations in New York, New Jersey, Washington DC, Arizona, Maryland, Georgia, and California.
We supply parts for all the below vehicles
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Uni-Select Inc. announced that, effective June 1, 2020, Uni-Select Canada Inc. has joined the Aftermarket Auto Parts Alliance, Inc. (the “Alliance”), the premier global network of independent automotive warehouse distributors, thus forming the largest Canadian group in this sector.
Uni-Select Inc. is a leader in the distribution of automotive refinish and industrial coatings and related products in North America, as well as a leader in the automotive aftermarket parts business in Canada and in the U.K.
“We are glad to join the Alliance as we are both driven by entrepreneurial spirit and have a strong commitment to the aftermarket,” said Brent Windom, president and CEO of Uni-Select. “This association will enable Uni-Select to accelerate our technological development while reducing development time to deliver world-class data management metrics across our customer spectrum. While both organizations and their respective brands will remain fully independent, we expect that our collaboration will drive increased brand recognition for Bumper to Bumper in North America and will maximize the impact of our newly launched Bumper to Bumper Auto Service program.”
Added John R. Washbish, president and CEO of the Alliance, “Uni-Select is an outstanding company led by some fine people, some of whom I have known for decades. They have an extensive footprint and an even more impressive reputation, and we are delighted to welcome them to the Alliance. We are confident this relationship will be mutually beneficial, and we look forward to working together and supporting our channel partners.”
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LITTTLETON, Colo.--(link hidden, please login to view)--APC Automotive Technologies, LLC, together with certain of its subsidiaries, (“APC” or the “Company”), today announced that it has entered into a comprehensive Restructuring Support Agreement (the “RSA”) with key stakeholders, including its asset-based lenders, 74% of its term loan lenders that are eligible to vote, and significant financial sponsors (the “RSA Parties”).
The restructuring transaction contemplated under the RSA will reduce APC’s outstanding indebtedness by approximately $290 million on a net basis, significantly strengthening the Company’s balance sheet and enhancing financial flexibility going forward. The RSA represents the commitment of the RSA Parties to support a comprehensive restructuring of the Company’s balance sheet.
Tribby Warfield, Chief Executive Officer of the Company, said, “The agreement with our lenders and equity sponsors represents their belief in APC’s business and their confidence in its future success. We are fortunate that APC possesses a market-leading underbody portfolio of highly regarded brands including Centric Parts®, StopTech®, AP Emissions®, Durafit® and Eastern Catalytic®, strong market recognition, and an exceptional customer base. Most importantly, we have an amazing team that is committed to providing quality products and excellent service to the industry.”
“This restructuring was designed to ensure that our ongoing business and service to customers continues without interruption, and I am confident that the steps we are announcing today will enable the Company to further enhance its ability to serve customers and invest in additional growth for years to come.”
To implement the financial restructuring contemplated under the RSA, the Company has filed voluntary petitions for reorganization pursuant to chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware on June 3, 2020.
The Company will continue to solicit votes on its plan of reorganization during the chapter 11 filing. Because the Company’s plan has already received significant support from its lenders, the Company expects to complete the confirmation process and emerge from bankruptcy within the next month.
In addition, the Company has negotiated agreements with certain of its existing term loan lenders to provide APC $50 million of additional financing in the form of debtor-in-possession financing, which will roll into an exit term loan facility. This will ensure APC’s ability to operate on an uninterrupted basis.
APC will continue to operate in the ordinary course during the restructuring process, with adequate liquidity to meet its financial obligations to vendors, suppliers, and employees. The Company expects to continue making payments to these parties without interruption. Furthermore, the Company will continue to both receive inventory as well as take and fulfill customer orders as usual. The Company has also filed customary “first day” motions to facilitate its day-to-day operations during the restructuring process.
Parties with questions about the chapter 11 process may contact the Company’s Claims and Solicitation Agent, Stretto, at 855.260.9397 (toll-free in the U.S.) or 949.407.8590. Stretto has also set up a website at
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Kirkland & Ellis LLP, Jefferies LLC, and WeinsweigAdvisors LLC are the advisors for the Company. The RSA Parties include, among others: (i) the Term Loan Lender Group represented by King & Spalding LLP and FTI Consulting and (ii) the financial sponsors represented by White & Case LLP.
About APC Automotive Technologies
APC Automotive Technologies is a leading supplier of automotive, light truck, and heavy-duty undercar replacement parts. For more information, visit
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